Morocco Expands Hydrocarbon Exploration Efforts
In a significant move to enhance its energy sector, the Moroccan government has issued ten new licenses for the exploration of oil and gas in the deep waters of the Atlantic Ocean. This initiative, part of the Gharb Deep Offshore project, aims to bolster the development of the country's energy resources and attract international investments. The announcement was made by Leila Benali, Morocco's Minister of Energy Transition and Sustainable Development, who stated that these licenses will be effective for three years and focus on hydrocarbon exploration in the Gharb Deep Offshore area, located off the coast of Kenitra.
Details of the Exploration Licenses
The awarded permits cover an expansive maritime area of approximately 17,000 square kilometers in the Atlantic's deep waters. The exploration program will commence with a preliminary phase involving the reprocessing and analysis of three-dimensional seismic data to identify geological structures beneath the seabed, paving the way for potential exploratory drilling. Furthermore, the agreements stipulate that the awarded company, a partnership between the National Office of Hydrocarbons and Mines (ONHYM) and Murphy Morocco Oil, a subsidiary of the American company Murphy Oil, is required to make substantial investments in seismic prospecting and drilling activities. Complying with both national and international marine environmental protection standards is also essential, which includes conducting environmental impact assessments before commencing any on-site activities. Regular reporting on exploration outcomes and the geological, technical, and financial information gathered will be mandatory to ensure effective project monitoring and enhance governance mechanisms within the energy sector.
Morocco currently relies heavily on imports to meet its oil and gas demands. However, the country is actively pursuing the exploration of domestic resources and the utilization of its shale oil reserves to reduce its energy dependence, reflecting a commitment to achieving greater energy security.
As reported by sana.sy.
