Moroccan offshore exploration at a crossroads15 March 2017
Morocco’s offshore explorers are focusing on completing and evaluating seismic data in their acreage now several landmark farm-in deals have been completed – and a handful of less notable players have made their exits. How those that remain decide to proceed will demonstrate the extent of their interest in the potential riches off the Moroccan coast.
Eni’s purchase of a 40% share of the Rabat Deep offshore permits last year received government approval in January. This means the company can advance with its plans to explore the acreage along with partners Woodside, which has a 25% share, and Chariot Oil & Gas, which has 10%. Morocco’s Office National des Hydrocarbures et des Mines holds the remaining 25%.
The potential for oil finds and the scale of the resources convinced Eni to invest, Larry Bottomley, chief executive of Chariot, told Interfax Natural Gas Daily.
Log in or register for a free trial to continue reading this article
Already a subscriber?
If you already have a subscription, sign in to continue reading this article.Sign in
Not a subscriber?
To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.Sign up