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Oil exploration investments exceed 1.44 billion MAD

According to official data, the total investment of oil exploration in Morocco reached the end of 2018 more than 1.44 billion dirhams, through about 80 licenses at the land and sea levels.

Data from the National Bureau of Hydrocarbons and Minerals of the Ministry of Energy, Minerals and Sustainable Development, on Tuesday, showed that hydrocarbon exploration included an area of ​​126,971 square kilometers.

The exploration included 28 land licenses, 42 marine licenses, 17 of which belonged to the National Hydrocarbons and Minerals Office, one license for exploratory studies and 10 concessions for exploitation, one for the Office.

The number of Morocco’s hydrocarbon exploration partners has reached 13, boosted by the recovery of the global economy marked by a significant increase in exploration and production investments.

The number of wells drilled during the past year are 7, of which 5 in the West, including 4 showed positive results, in addition to a well in the Grand Tandarah and another well in the maritime, in addition to the conclusion of three oil agreements with companies “Repsol” and “Sound Energy” in Sidi Mokhtar and Grand Tandara.

In the area of ​​mineral exploration, the Office revealed that 49 metal objects were investigated, of which 35 were for the Office, including 10 targets for precious metals, 10 for basic minerals and uranium, four for industrial rocks and minerals, eight for reconnaissance operations.

According to the official data of the Office, the individuals had 14 goals in the field of mineral research, 4 of which were precious metals, 6 were basic minerals, and 4 were related to industrial rocks and minerals.

The year 2018 was characterized by an increase in the volume of shipments of Algerian natural gas transit to the European Maghreb gas pipeline by 18.9% compared to 2017, moving from 7.95 billion cubic meters to 945 billion cubic meters, due to the large increase in consumption By European customers, especially “Segane” and “Transgas”.

As a result, sales of hydrocarbons at the end of December 2018 amounted to MAD 141.5 million, excluding fees, compared to MAD 110.67 million, excluding fees, during 2017, recording an increase of 27.8% Cent.

According to the Finance Act 2019, the Algerian gas pipeline that runs through the Moroccan territory to the EU is expected to generate about 1.5 billion dirhams.

Morocco seeks to strengthen cooperation with African countries in the areas of hydrocarbons and minerals. Last year, new agreements and supplements were signed with Congo, Mali and South Sudan.

One of the major projects for 2019 will be the continuation of mineral and oil exploration and the development of three structural projects for production, the production of a tandem project, the expansion of Masqra production and the continuation of production in the West.

Morocco is also preparing a massive project with Nigeria to link a gas pipeline to 14 countries to Morocco to transport it to Europe.

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