Morocco: Europa Oil & Gas takes Agadir Basin permit

AIM-listed Europa Oil & Gas has been awarded the 11,228km2 Inezgane Offshore permit in the Agadir Basin. The block is a newly delineated area offshore Agadir comprising parts of the former Foum Assaka and Tarhazoute Offshore permits. Europa, whose board includes fromer Petroceltic chief executive Brian O’Cathain, will operate the licence with 75%, alongside Morocco’s Office National des Hydrocarbures et des Mines with 25%. Europa said it was focusing on a Lower Cretaceous fan sand play and had identified a number of large structural traps on the edges of and above salt diapirs.