Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) on 19 April signed an oil exploration contract with US companies Direct Petroleum Morocco and Anschutz Morocco Corporation for the onshore Asilah-Tissa block. The two companies will conduct seismic studies within the 12,836 sq km area over a 12-month period. Anschutz has previously conducted seismic studies in the block in partnership with ONAREP (Office National de Recherche et d’Exploitations Pétrolières), which was in 2003 merged with the Bureau de Recherches et de Participations Minières to form ONHYM (MEES, 1 November 2004).
Rabat To Establish Hydrocarbon Exploration Fund
Meanwhile, Rabat is considering the establishment of a hydrocarbon exploration fund. According to a report in La Vie Economique the fund will be launched in 2006 with an initial capital of $117mn. National operators will be invited to participate. Crude and gas discoveries offshore neighboring Mauritania have prompted Morocco to take a new interest in its own search for hydrocarbons. During 2004 only three wells were drilled offshore Morocco. Officials at ONHYM were reported as saying that the agency was limited in its exploration efforts as its annual budget was only MD50mn ($5.8mn).
Morocco has awarded 72 exploration permits of which 57 are offshore and 15 onshore. The country has four exploration zones – two onshore, two offshore. ONHYM has signed 13 oil agreements and four reconnaissance contracts with 17 different companies. During 2000-04, foreign companies invested some $340mn in prospecting operations, with $281mn going towards offshore operations and $61mn directed onshore. According to ONAREP figures, Morocco produced only 12,500 tons of crude during 2003 and 47.8mn cu ms of natural gas.
