Memorandum of Understanding between Syria and Venezuela on the cooperation in fields of energy ratified by Decree No. 123 of 15 March 2007.

This Agreement aims at the sustainable cooperation between the two Countries in fields of energy. It is composed of 12 articles. Articles 1 and 2 deal with objectives of the Agreement in particular: development of the technical and scientific cooperation in fields of petroleum, gas and electricity; exchange of researches and specialists in fields of energy; laying down joint projects and plans related to energy; establishment of permanent consultation mechanisms; enlargement and development of joint training and capacity building; and, organization of joint workshops. Articles 3 and 4 define the competent authorities in the two Countries and specify mechanisms for the control and monitoring of the implementation of this Agreement. Articles 6 to 11 pertain to the following matters: use of the exchanged information; expenses and expenditures; labour relationships; sovereignty; amendments; and dispute settlements.