Investments in oil and gas explorations onshore and offshore Morocco since 2015 have totaled $2.8 billion (25 billion dirhams), 96% of which was paid by partners of the Moroccan hydrocarbons and mining office. Speaking at a meeting of the board of directors of the office, the Moroccan government chief said that the increasing oil and gas explorations are drawing further investments by energy giants into the Moroccan market. In 2017, Morocco maintained the same momentum in oil and gas licenses, Saad Eddine El Othmani added, saying that investments worth $137 mln have been launched in the gas and oil sector. Sound Energy had announced that it would soon start commercializing the first gas from Sidi Mokhtar in Essaouira Basin, central Morocco. Several drillings for oil and gas operations are being conducted in Morocco, which imports about 95 percent of its energy needs.

Source: The North Africa Journal February 04, 2018 23:37 UTC