Natural Gas Daily Africa Exploration & Production
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.
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