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Subscriber

The dispute over the management of Moroccan renewables developer Platinum Power has shifted into a new phase. A 21 March decision by the Casablanca Commercial Court allowing the company to continue trading means that it is now up to a wide group of stakeholders to chart a route out of its difficulties. Chief among these are the company’s creditors, but they also include the shareholders, judicial authorities and even the government.Platinum is developing the Tayaboui and Gao hydro projects in Côte d’Ivoire and the Makay hydro plant in Cameroon.

Morocco
Subscriber

Ever keen to put a positive spin on developments, the Moroccan government is planning to create a national gas logistics company to make the state a key stakeholder in a new gas sector strategy, which is now planned for introduction “before 2030”. Energy, mines and sustainable development minister Abdelaziz Rabbah told Casablanca business monthly Economie Entreprises that this would promote public-private partnerships (PPPs) in major gas sector developments, adding that tenders were being prepared for advisers to draw up an appropriate PPP platform.

Morocco
Subscriber

Qatar Petroleum (QP) has continued its international expansion with agreements with Eni to take 25.5% in Block A5A in Mozambique’s Angoche Basin and 30% in the Tarfaya Offshore Shallow licence offshore Morocco.The Mozambique block is adjacent to ExxonMobil’s A5B, in which QP took 10% in December, along with stakes in Z5-C and Z5-D in the Zambezi Basin.In Morocco, Eni is performing geological and geophysical studies as part of the work programme for the first exploration period.

Mozambique | Morocco
Subscriber

Spain and Morocco have signed a memorandum of understanding (MoU) to build a third power interconnector. The proposed 400kV line, with an expected technical capacity of 700MW, will export renewable energy into the European grid, mainly derived from Morocco’s solar power development plan, which in turn will reduce the marginal price of electricity in the Spanish market, according to a statement on 14 February by the Spanish grid operator Red Eléctrica de España (REE).

Morocco
Issue 387 - 28 February 2019

Morocco: Platinum Power in court

Subscriber

The struggle between the shareholders of Morocco’s Platinum Power for control of the company and its important portfolio of power projects in Morocco, Côte d’Ivoire and Cameroon is being played out in the kingdom’s commercial court, where the solvency of the venture and the validity of its governance are under scrutiny.On 19 February, Platinum chief executive Omar Belmamoun failed to attend a hearing at the Casablanca commercial court.

Morocco
Issue 386 - 14 February 2019

Morocco: SDX announces licence awards

Subscriber

SDX Energy has expanded its activities in Morocco with the award of the Moulay Bouchta Ouest and Lalla Mimouna Sud licences in the Gharb Basin. The awards come as the company plans a 12-well exploration and development drilling programme, due to start in H2. The Moulay Bouchta Ouest exploration licence, which SDX will operate with a 75% working interest alongside Onhym with 25%, covers 458km2 and has an initial eight-year term. The area was previously held by Gulfsands Petroleum.

Morocco
Issue 385 - 31 January 2019

Morocco: Platinum under pressure

Subscriber

Moroccan renewables developer Platinum Power is facing an action for breach of contract in a court in Delaware from its main financial backer. Local media are now reporting that the company is close to bankruptcy and that staff have not been paid for months.Platinum is developing the Tayaboui and Gao hydro projects in Côte d’Ivoire and the Makay hydro plant in Cameroon.

Morocco
Subscriber

Saudi authorities have released Saudi-Ethiopian billionaire Mohammed Hussein Al-Amoudi after more than 14 months in detention, initially in the Ritz-Carlton Hotel in Riyadh, in the corruption purge ordered by Crown Prince Mohammed Bin Salman Bin Abdelaziz Al-Saud. As with other business figures held in November 2017, Al-Amoudi seems to have engineered his release in a settlement process involving the transfer of cash and assets. “He paid and he paid a lot,” the Wall Street Journal quoted “a person familiar with Amoudi’s situation” saying.

Ethiopia | Morocco
Subscriber

Office National de l’Electricité et de l’Eau Potable (ONEE) has invited prequalification applications by 12 February for the construction, operation and maintenance of the Noor Atlas solar photovoltaic project, comprising seven plants with a total capacity of around 200MWp. The seven projects, with capacity of 20MWp-30MWp each, are being offered in two lots. The first lot seeks bids for projects in Ain Beni Mathar, Bouanane, Boudnib, Boulmane (Enjil) and Outat El Haj in eastern Morocco.

Morocco
Issue 384 - 17 January 2019

Nigeria-Morocco pipeline study

Subscriber

Morocco’s Office National des Hydrocarbures et des Mines and the Nigerian National Petroleum Corporation have given Penspen a new contract for a project to build a gas pipeline system that would eventually run some 5,700km from Nigeria to Morocco’s Mediterranean coast.

Nigeria | Morocco
Issue 407 - 16 January 2019

Morocco: Tender to rehabilitate dams

Subscriber

Office National de l’Electricité et de l’Eau Potable (ONEE) invites bids by 25 March for the design, supply, installation and commissioning of hydromechanical and electrical rehabilitation works at the Bin El Ouidane and Ait Ouarda dams on the El Abid River in the Béni Mellal-Khénifra region. The contracted work, which is expected to take 18 months, is to be financed by the European Bank for Reconstruction and Development, which agreed in November 2015 to provide a sovereign-guaranteed loan of up to €35m ($39m) to finance the ONEE Hydro Rehabilitation Project.

Morocco
Subscriber

Jersey-based Predator Oil & Gas Holdings has announced that Office National des Hydrocarbures et des Mines (Onhym) has accepted its licence application for Guercif permits I-IV. The four onshore permits cover an area of 7,269km² east of the Gharb Basin gas fields and north-west of Sound Energy’s Tendrara gas project. The licence will be formally awarded once Predator has provided a bank guarantee, the company said. Predator will operate the licence through its wholly owned subsidiary Predator Gas Ventures with 75%, while Onhym will hold the other 25%.

Morocco
Free

The African Development Bank and Moroccan Agency for Sustainable Energy (Masen) on 7 November signed a letter of intent to cooperate on the development of the Desert to Power initiative. The initiative targets countries in the Sahel to strengthen regional integration, transfer of technology, capacity building, technical assistance, and project development in renewable energy and resource mobilisation.

Morocco
Issue 380 - 08 November 2018

Moroccan budget woes drive asset sale

Subscriber

Recently appointed finance minister Mohammed Benchaâboun is tackling Morocco’s burgeoning budget deficit with reforms that some local observers are calling Thatcherite. The former banker expects to raise funds by divesting the state’s remaining saleable assets, with major privatisations for the first time in a decade.

Morocco
Subscriber

A campaign group based in Galway and London has filed a complaint with the Irish government claiming that San Leon Energy is in breach of the guidelines for multinational enterprises set out by the Organisation for Economic Co-operation and Development (OECD) due to its activities in the onshore Tarfaya and Zag licence areas. On 24 October, Global Legal Action Network (Glan) approached the Irish government’s National Contact Point (NCP), which is based in the Department of Business, Enterprise and Innovation and deals with corporate adherence to the OECD’s guidelines.

Morocco