Morocco: New permit for Gulfsands


Issue 276 - 02 May 2014 | 1 minute read

AIM-listed Gulfsands Petroleum has finalised agreements with the Office National des Hydrocarbures et des Mines for the acquisition of the newly created Moulay Bouchta permit. Gulfsands will operate the permit with a 75% stake, while the state oil company will retain a 25% carried interest. The permit covers 2,850km2 to the north of the company’s Rharb Sud permit and extends eastwards to surround the western, northern and eastern boundaries of its Fes Block.

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