Morocco receives over DH20 billion of investments in hydrocarbons

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For the past fifteen years, Morocco has accumulated 22 billion dirham of investments in hydrocarbons exploration according to the Board of Directors of The National Office of Hydrocarbons and Mining (ONHYM).

Morocco receives over DH20 billion of investments in hydrocarbons

Morocco receives over DH20 billion of investments in hydrocarbons

Majority of the said investments which accounts to 94% came from the partners of ONHYM and this is a proof of the interest of the major oil companies to invest in Morocco.

ONHYM stressed the role played by oil and gas exploration contracts in the national energy policy that aims to reduce energy dependence and support the requirements of the Moroccan economic development model. The importance of continued mineral exploration in several regions of Morocco is also highlighted as well as the carrying out of technical operations in order to locate new mines.

As of September 2015, hydrocarbon exploration and mining has covered a total area of about 455,070 square kilometers. These explorations are within the framework of 39 onshore and 79 offshore license permits and have involved 26 projects. The projects associated are for precious metals, base metals, uranium, industrial minerals and rocks.

The investments will mainly revolve on drilling new exploration wells, the acquisition of the required seismic and 40 kilometers of pipelines to develop gas production in the fields of Gharb.

Mohamed Dekkak

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