TotalEnergies Signs MoU with Syrian Petroleum Company
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
TotalEnergies (TTE), together with its partners QatarEnergy and ConocoPhillips (COP), has signed a Memorandum of Understanding (MoU) with the Syrian Petroleum Company relating to the exploration of Block 3, offshore Syria in the Mediterranean Sea. The MoU covers a technical review by the partners of the offshore Block 3 area and establishes a framework for technical and commercial discussions related to exploration activities on this block. "We are pleased to enter into this new partnership with the Syrian Petroleum Company with which we had a long and fruitful relationship from 1988 to 2011, and we look forward to cooperating with QatarEnergy and ConocoPhillips to assess Syrian offshore exploration opportunities in the Mediterranean Sea," said Julien Pouget, Senior Vice President Middle East and North Africa Exploration & Production at TotalEnergies.
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Analyst Views on TTE
Wall Street analysts forecast TTE stock price to fall
16 Analyst Rating
8 Buy
8 Hold
0 Sell
Moderate Buy
Current: 91.370
Low
60.04
Averages
71.67
High
90.93
Current: 91.370
Low
60.04
Averages
71.67
High
90.93
About TTE
TotalEnergies SE is a France-based company. The Company is predominantly engaged in the business as a worldwide oil group. Its segment divisions are divided into refining and chemistry such as refining of petroleum products and manufacture of basic chemistry and of specialty chemistry, petroleum products distribution, electricity generation from combined cycle gas plants and renewable energies, gas production, trading, transport and distribution primarily includes liquefied natural gas, natural gas, biogas, hydrogen, liquefied petroleum gas and hydrocarbon operating and production. The group is also operating in trading and sea transport of crude oil and oil products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
TotalEnergies Signs MoU with Egypt for Mediterranean Exploration
- Framework for Cooperation: TotalEnergies has signed a memorandum of understanding with the Egyptian Natural Gas Holding Company to explore a large offshore area in the Mediterranean, establishing a framework for technical cooperation that supports the assessment of Egypt's deep offshore exploration potential, thereby reinforcing its business presence in the region.
- Current Investment Overview: TotalEnergies holds a 25% stake in the North El-Hammad offshore block and a 5% interest in the first train of the Idku gas liquefaction plant, which provides a solid foundation for its ongoing development in Egypt and enhances its operational footprint.
- Regional Expansion Strategy: The company’s exploration activities in the Mediterranean also extend to Lebanon, Libya, and plans to resume operations in Syria with partners, indicating a strategic intent to leverage multi-national resources to enhance its competitive position in the region.
- Future Growth Potential: This new collaboration not only strengthens TotalEnergies' market position in Egypt but also paves the way for future growth opportunities, particularly as global energy demand continues to rise, making deep offshore exploration a crucial growth driver.
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- Market Reaction: Asian markets showed mixed performance ahead of Trump's visit, while U.S. futures remained relatively unchanged; notably, the S&P 500 reached an all-time high on Wall Street, reflecting traders' enthusiasm for technology stocks despite pressures from the latest inflation report.
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TotalEnergies Signs MoU with Syrian Petroleum Company for Offshore Exploration
- MoU Signing: TotalEnergies, alongside QatarEnergy and ConocoPhillips, has signed a memorandum of understanding to jointly explore Block 3 offshore Syria, marking a collaborative effort in technical and commercial negotiations.
- Block Location and Depth: Block 3 is situated in the Levantine Basin near Latakia, Syria, with water depths ranging from 100m to 1,700m, indicating the area's potential resource richness and development complexity.
- Historical Partnership: TotalEnergies maintained a long-term partnership with the Syrian Petroleum Company from 1988 to 2011, and although it withdrew due to EU sanctions, this renewed collaboration highlights a renewed interest in the Syrian oil and gas market.
- Future Development Potential: QatarEnergy's CEO Al-Kaabi stated that this agreement reflects its international growth strategy aimed at exploring upstream oil and gas business opportunities in the region and globally, suggesting potential economic growth and prosperity for Syria.
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TotalEnergies Signs MoU with EGAS for Exploration Activities
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- Exploration Potential Assessment: The MoU will support the assessment of Egypt's deep offshore exploration potential, reflecting the shared ambition of TotalEnergies and Egypt to enhance cooperation, potentially laying the groundwork for future energy development.
- Commitment to Sustainability: TotalEnergies is committed to providing more reliable, affordable, and sustainable energy, with over 100,000 employees active in about 120 countries, showcasing its influence in the global energy market.
- Strategic Cooperation Significance: This agreement not only consolidates TotalEnergies' strategic positioning in the Egyptian market but may also enhance energy security and economic development in the region, aligning with global energy transition trends.
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TotalEnergies Shares and Voting Rights Update
- Total Shares: As of April 30, 2026, TotalEnergies has a total of 2,276,108,151 shares, reflecting the company's stability in the market and ongoing investment appeal.
- Voting Rights Overview: The total number of voting rights stands at 2,276,010,815, indicating shareholder engagement in corporate governance and enhancing transparency.
- Exercisable Voting Rights: After deducting 50,102,288 treasury shares, the exercisable voting rights amount to 2,226,005,863, demonstrating the company's management and strategy regarding shareholder equity.
- Compliance Statement: This information is published in accordance with Article L.233-8-II of the French Commercial Code and Article 223-16 of the AMF General Regulation, ensuring the company adheres to relevant regulations and maintains market trust.
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TotalEnergies Signs Deal with Syrian Petroleum Company for Exploration
- Technical Review Initiated: TotalEnergies, along with the Syrian Petroleum Company and partners QatarEnergy and ConocoPhillips, has signed a deal to launch a technical review for exploration of Block 3 in the Mediterranean, reflecting Syria's new government's efforts to attract foreign investment after years of civil war and sanctions.
- Historical Production Overview: In 2011, TotalEnergies produced 53,000 barrels of oil equivalent per day in Syria before withdrawing due to the onset of a 14-year war that devastated the country's economy and infrastructure.
- Rising Industry Interest: Interest among energy majors for new Syrian projects is increasing, as evidenced by Chevron's recent selection of a site for Syria's first deepwater oil and gas project, with technical operations expected to commence this summer, indicating a renewed focus on the Syrian market.
- Improved Investment Climate: This agreement not only provides TotalEnergies with an opportunity to re-enter the Syrian market but may also encourage other international energy companies to engage in Syria's energy development, thereby promoting the country's economic recovery and infrastructure rebuilding.
See More
TotalEnergies Signs MoU with Egypt for Mediterranean Exploration
- Framework for Cooperation: TotalEnergies has signed a memorandum of understanding with the Egyptian Natural Gas Holding Company to explore a large offshore area in the Mediterranean, establishing a framework for technical cooperation that supports the assessment of Egypt's deep offshore exploration potential, thereby reinforcing its business presence in the region.
- Current Investment Overview: TotalEnergies holds a 25% stake in the North El-Hammad offshore block and a 5% interest in the first train of the Idku gas liquefaction plant, which provides a solid foundation for its ongoing development in Egypt and enhances its operational footprint.
- Regional Expansion Strategy: The company’s exploration activities in the Mediterranean also extend to Lebanon, Libya, and plans to resume operations in Syria with partners, indicating a strategic intent to leverage multi-national resources to enhance its competitive position in the region.
- Future Growth Potential: This new collaboration not only strengthens TotalEnergies' market position in Egypt but also paves the way for future growth opportunities, particularly as global energy demand continues to rise, making deep offshore exploration a crucial growth driver.
See More
Trump's Visit to China Sparks Market Attention
- High-Level Meeting Context: President Trump arrived in Beijing on May 13, 2026, accompanied by top executives including Tesla's Elon Musk and Nvidia's Jensen Huang, aiming to engage in crucial discussions with President Xi Jinping on trade, technology, and regional security issues.
- Market Reaction: Asian markets showed mixed performance ahead of Trump's visit, while U.S. futures remained relatively unchanged; notably, the S&P 500 reached an all-time high on Wall Street, reflecting traders' enthusiasm for technology stocks despite pressures from the latest inflation report.
- Inflation Data Impact: U.S. wholesale inflation surged to 6% year-over-year in April, marking the highest increase since 2022, which intensifies pressure on Federal Reserve policy and complicates the economic backdrop for Trump's high-level diplomacy.
- Global Oil Flow Constraints: The closure of the Strait of Hormuz due to the Iran war has severely impacted global oil flows, with OPEC reporting a 30% reduction in supply since the conflict began, posing significant risks to demand growth this year.
See More
TotalEnergies Signs MoU with Syrian Petroleum Company for Offshore Exploration
- MoU Signing: TotalEnergies, alongside QatarEnergy and ConocoPhillips, has signed a memorandum of understanding to jointly explore Block 3 offshore Syria, marking a collaborative effort in technical and commercial negotiations.
- Block Location and Depth: Block 3 is situated in the Levantine Basin near Latakia, Syria, with water depths ranging from 100m to 1,700m, indicating the area's potential resource richness and development complexity.
- Historical Partnership: TotalEnergies maintained a long-term partnership with the Syrian Petroleum Company from 1988 to 2011, and although it withdrew due to EU sanctions, this renewed collaboration highlights a renewed interest in the Syrian oil and gas market.
- Future Development Potential: QatarEnergy's CEO Al-Kaabi stated that this agreement reflects its international growth strategy aimed at exploring upstream oil and gas business opportunities in the region and globally, suggesting potential economic growth and prosperity for Syria.
See More
TotalEnergies Signs MoU with EGAS for Exploration Activities
- Cooperation Framework Established: TotalEnergies and the Egyptian Natural Gas Holding Company signed a Memorandum of Understanding covering extensive exploration activities in north-western offshore Egypt, aimed at strengthening collaboration in deep offshore exploration potential through a technical cooperation framework.
- Exploration Potential Assessment: The MoU will support the assessment of Egypt's deep offshore exploration potential, reflecting the shared ambition of TotalEnergies and Egypt to enhance cooperation, potentially laying the groundwork for future energy development.
- Commitment to Sustainability: TotalEnergies is committed to providing more reliable, affordable, and sustainable energy, with over 100,000 employees active in about 120 countries, showcasing its influence in the global energy market.
- Strategic Cooperation Significance: This agreement not only consolidates TotalEnergies' strategic positioning in the Egyptian market but may also enhance energy security and economic development in the region, aligning with global energy transition trends.
See More
TotalEnergies Shares and Voting Rights Update
- Total Shares: As of April 30, 2026, TotalEnergies has a total of 2,276,108,151 shares, reflecting the company's stability in the market and ongoing investment appeal.
- Voting Rights Overview: The total number of voting rights stands at 2,276,010,815, indicating shareholder engagement in corporate governance and enhancing transparency.
- Exercisable Voting Rights: After deducting 50,102,288 treasury shares, the exercisable voting rights amount to 2,226,005,863, demonstrating the company's management and strategy regarding shareholder equity.
- Compliance Statement: This information is published in accordance with Article L.233-8-II of the French Commercial Code and Article 223-16 of the AMF General Regulation, ensuring the company adheres to relevant regulations and maintains market trust.
See More
TotalEnergies Signs Deal with Syrian Petroleum Company for Exploration
- Technical Review Initiated: TotalEnergies, along with the Syrian Petroleum Company and partners QatarEnergy and ConocoPhillips, has signed a deal to launch a technical review for exploration of Block 3 in the Mediterranean, reflecting Syria's new government's efforts to attract foreign investment after years of civil war and sanctions.
- Historical Production Overview: In 2011, TotalEnergies produced 53,000 barrels of oil equivalent per day in Syria before withdrawing due to the onset of a 14-year war that devastated the country's economy and infrastructure.
- Rising Industry Interest: Interest among energy majors for new Syrian projects is increasing, as evidenced by Chevron's recent selection of a site for Syria's first deepwater oil and gas project, with technical operations expected to commence this summer, indicating a renewed focus on the Syrian market.
- Improved Investment Climate: This agreement not only provides TotalEnergies with an opportunity to re-enter the Syrian market but may also encourage other international energy companies to engage in Syria's energy development, thereby promoting the country's economic recovery and infrastructure rebuilding.
See More
