Morocco oil licenses 2008

In parallel, ONHYM and its partners signed an Association Contract which aims to set out the procedures to carry out the exploration and exploitation of hydrocarbons. Click here. Human Resources. Jobs and careers Training Social activities. Following the completion of the technical work program, Europa plans to launch a farm-out process, to find a partner to help it drill the well s. THe company also said it continued to maintain a dialogue with three companies which have expressed interest in Inezgane.

The original duration of the Inezgane Permit was eight years comprising three exploration phases of which the Initial Phase of the Licence comprised two years. Following the extension, the Initial Phase will now run for three years and the duration of the Inezgane Licence across the three exploration phases is now nine years.

Cumulative production during this period reached 8 million barrels of oil. From to , the Hydrocarbon Law was passed and drawn international investments. Wells drilled during this period revealed commercial oil and gas accumulations in the Essaouira and Rharb Basins. By the end of , cumulative production was 9 million barrels of oil and 35 BCF of gas.

From to , the oil shock in had a major impact on exploration activities, which were virtually halted. From to , The Hydrocarbon Law was amended in providing Oil and Gas investors with some of the most attractive fiscal terms and has resulted in attracting more international oil companies in the hydrocarbon sector. The missions of the National Office of Hydrocarbons and Mines, established by law since its creation, are as follows. The analysis of the database of the existing wells underlines three important facts:.

Ge nerally speaking, Morocco is underexplored in terms of petroleum exploration and is considered as frontier zones only wells were drilled both in onshore and offshore Morocco.