- Several international companies have demonstrated interest in exploring Morocco’s potential hydrocarbon resources.
- Ratio Petroleum, Israeli oil and gas Exploration Company has announced its plans to explore offshore hydrocarbon deposits at Morocco’s Dakhla Atlantic Bloc extending over 129,000 square kilometers.
Ratio Petroleum, an Israeli oil, and gas Exploration Company has announced its plans to explore offshore hydrocarbon deposits at Morocco’s Dakhla Atlantic Bloc extending over 129,000 square kilometers. The Israeli news outlet Energia News, disclosed that Ratio Petroleum had signed a research agreement with Morocco’s National Office of Mines and Hydrocarbons (ONHYM) in September.
The Agreement provides exclusive rights to Ratio Petroleum to study and explore hydrocarbons in the Atlantic Dakhla Bloc and also allows the Israeli company to explore hydrocarbons or gas in water depths of 3,000 meters. The deal also outlines the conditions under which Ratio Petroleum could obtain a license for the exploitation and production of petroleum.
Several international companies have demonstrated interest in exploring Morocco’s potential hydrocarbon resources. In August, Europa Oil & Gas announced its plans to drill for oil in Agadir. The company was awarded the exploration permit, with Europa holding 75% ownership and Morocco’s office of hydrocarbons holding 25%. Companies including Predator Oil & Gas and SDX Energy are also present in Morocco. In 2018, Moroccan and foreign companies invested MAD 1.44 billion in oil and gas exploration across Morocco.
