Circle Oil, an international company specializing in oil and gas exploration, development and production, had also started drilling works in
The company and its technical team are set to make the most of the opportunities and ensure success by commencing its third drilling procedure. The company described Morocco as the most important destination for investment in the future.
The company thinks that in order to preserve and raise their profit, they must undertake reserve replacement and augmentation in Morocco as a core country to invest in for the future.
The company has a large portfolio of prospects to choose from in addition to its first 12 locations which have an estimated 25 billion cubic feet of reserves. There are already 34 global oil and gas exploration companies devoted in Morocco’s hydrocarbon sector.
The National Office of Hydrocarbons and Mining (ONHYM) announced than an oil test drill done by another Oil and Gas company had found hopeful sign for oil and gas exploration gas in Sidi Mokhtar (Essaouira province) and this encouraged others to continue the zone’s exploration by drilling of other wells and 3D seismic acquisition.