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Issue 247 - 31 January 2013

Plains Exploration enters Moroccan play

Subscriber

Also moving into Morocco is US minnow Plains Exploration and Production Company (PXP), which is to pay Australian independent Pura Vida Energy $15m upfront for a 52% stake in the Magazan deep-water permit.

Morocco
Subscriber

The 22 January announcement by Chevron Corporation that its Chevron Morocco Exploration Ltd subsidiary had signed petroleum agreements with the state Office National des Hydrocarbures et des Mines (Onhym) for three offshore areas underlines the extent of international oil company (IOC) enthusiasm for entry into the Moroccan Atlantic Margin offshore play.

Morocco
Free

Office National de l’Electricité et de l’Eau Potable has published notice of prequalification for the 350MW Abdelmoumen pumped storage project in Taroudant Province. The turnkey contract will include implementation studies, civil works, materials and equipment supply, installation, testing and commissioning of the power plant.

Morocco
Subscriber

Following its success at drawing in cheap financing and qualified bidders for the 160MW first phase of the 500MW Ouarzazate independent power project (IPP), Moroccan Agency for Solar Energy (Masen) has issued prequalification bids to install another 300MW at the southern site.

Morocco
Issue 246 - 17 January 2013

Morocco: Gulfsands buys Cabre Maroc

Subscriber

AIM-listed Gulfsands Petroleum has reached an agreement with Caithness Petroleum to acquire Cabre Maroc, which has oil and gas exploration and exploitation licences covering 13,352km2 in northern Morocco.

Morocco
Subscriber

Amid its financial problems, one bright spot for Office National de l’Electricité et de l’Eau, the merged entity created from the kingdom’s power and water utilities, is that Morocco continues to be a favourite for financiers.

Morocco
Free

Office National d'Electricité et de l’Eau Potable has released the 2013 procurement plan for the Integrated Wind and Rural Electrification project. Three tenders worth an estimated combined total of €222m ($290m) will be sought during the year.

Morocco
Issue 245 - 13 December 2012

Morocco: Tangiers farm-out agreement

Subscriber

Portugal’s Galp Energia has agreed to farm into Tangiers Petroleum’s Tarfaya Offshore area, taking a 50% stake and assuming operatorship. Tangiers will retain a 25% interest, and the Office National des Hydrocarbures et des Mines (Onhym), the Moroccan state company, will maintain its 25% interest.

Morocco
Issue 245 - 13 December 2012

RWE moots Canaries stake sale

Subscriber

Germany’s RWE Dea is considering the sale of its 20% working interest in the Repsol-operated Canaries 1-9 concession, located east of Lanzarote and Fuerteventura in the Aaiun-Tarfaya sedimentary basin.

Morocco
Subscriber

The European Investment Bank, the Agence Française de Développement, Germany’s KfW Entwicklungsbank and the Moroccan Agency for Solar Energy made financial commitments on 19 November totaling €300m ($390m) for the Ouarzazate solar complex.

Morocco
Issue 244 - 29 November 2012

Morocco: More new players line up

Subscriber

As interest in Morocco’s exploration potential increases, former BP boss Tony Hayward’s Genel Energy has continued its acquisition trail, signing an agreement with the Office National des Hydrocarbures et des Mines (Onhym), giving it a 75% operating stake in the Mir Left Offshore Block, immediately north-east of its Sidi Moussa Offshore Block (AE 242/4). Onhym will hold the other 25%.

Morocco
Free

While renewables projects in North Africa have been making progress – led by Moroccan solar development agency Masen’s 125MW first concentrated solar power phase of the 500MW Ouarzazate scheme – the most highly publicised, ambitious scheme of all, the Desertec Industrial Initiative (Dii), is struggling to convince sceptics it can revolutionise patterns of electricity generation south of the Mediterranean and of supply within the European Union area.

Morocco
Issue 243 - 15 November 2012

Fastnet to exercise option in Morocco

Subscriber

Fastnet Oil and Gas, a company set up by former Cove Energy directors, has agreed to exercise its option to take up a 50% paying interest in the onshore Merada licence.

Morocco
Subscriber

Drilling next year will test whether north-west Africa’s previously unfashionable deep offshore could produce an equivalent of Ghana’s Jubilee field. A declaration of commerciality for the Banda gas field off Mauritania could add to the industry’s interest in lesser-known Atlantic Margin plays, write John Hamilton and Thalia Griffiths

Morocco
Issue 242 - 01 November 2012

Fastnet emerges at the Atlantic Margin

Subscriber

Fastnet Oil and Gas executive vice president exploration Paul Griffiths said in October that Morocco’s Foum Assaka offshore permit, which is operated by Kosmos Energy, as having “multi-billion barrel resources in place in several plays including a Jubilee field, Ghana analogue”.

Morocco