One of the biggest surprises at this year’s North Africa Oil and Gas Summit was the level of buzz about Morocco, generally regarded as the region’s outstanding “have-not” country in terms of oil and gas,reports the oil website Platts.
Source : https://www.marocafrik.com/english/Finding-oil-in-...
Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) has been emphasising that Morocco is underexplored and a number of international oil and gas companies have now invested in the sector agreeing with this analysis.Exploration in deepwater of the Atlantic coast is accelerating. New IOC's include Anglo-Turkish Genel Energy, which has a 60% working interest in the Sidi Moussa block and in late November acquired 75% of the contiguous Mir Left block. It is also junior partner in the Juby Maritime block with 37.5%.
UK’s Cairn Energy is Juby’s operator, also with a 37.5% stake, and in August purchased 50% of the Foum Draa blocks from three smaller explorers.
A third big name player in international frontier exploration is Bermuda-registered Kosmos Energy, which is the operator of three offshore licenses acquired in 2011. It has a 100% working interest in the Tarhazoute block, 56.3% in Foum Assaka and 37.5% in Essaouira.
These IOCs have impressive track records in finding oil and gas in underexplored areas. Morocco's generous exploration incentives have undoubtedly helped attract IOCs who are looking to spread risk over a number of regions. However as Platts notes, Morocco's first well was drilled as long ago as 1919 and in 2010 oil production averaged a mere 210 b/d and gas output at only 4,800 mcf/d. Morocco imports most of its hydrocarbon needs and is looking to find its own reserves.
UK’s Cairn Energy is Juby’s operator, also with a 37.5% stake, and in August purchased 50% of the Foum Draa blocks from three smaller explorers.
A third big name player in international frontier exploration is Bermuda-registered Kosmos Energy, which is the operator of three offshore licenses acquired in 2011. It has a 100% working interest in the Tarhazoute block, 56.3% in Foum Assaka and 37.5% in Essaouira.
These IOCs have impressive track records in finding oil and gas in underexplored areas. Morocco's generous exploration incentives have undoubtedly helped attract IOCs who are looking to spread risk over a number of regions. However as Platts notes, Morocco's first well was drilled as long ago as 1919 and in 2010 oil production averaged a mere 210 b/d and gas output at only 4,800 mcf/d. Morocco imports most of its hydrocarbon needs and is looking to find its own reserves.
Source : https://www.marocafrik.com/english/Finding-oil-in-...
Paris-Alger : fragile réconciliation sur un air de déjà-vu