Eni has signed an agreement with Morocco’s National Office of Hydrocarbons and Mines (ONHYM) to explore the Tarfaya offshore shallow exploration permits 1-12 near the cities of Sidi Ifni, Tan Tan and Tarfaya, Eni said in a statement.
The agreement is subject to authorisation by Moroccan authorities. Eni will operate the licence with a 75% stake, while ONHYM will retain a 25% stake.
The blocks have oil potential, Eni said, and cover an area of 2.39 million hectares.
Eni already has a presence offshore Morocco through its operatorship...