See also:
» 28.10.2010 - Morocco to triple electricity production
» 16.03.2010 - Sun power project "may eye Western Sahara location"
» 31.03.2009 - Morocco and Tunisia get $2.5 billion in energy investments
» 09.03.2009 - Morocco announces $10 billion investment in the energy sector
» 09.10.2008 - Moroccan solar partnership to expand business interest to N/Africa
» 16.06.2008 - Morocco secures wind farm investment
» 12.05.2008 - Algeria to export power through Morocco
» 21.12.2004 - Divestments from Kerr-McGee over Western Sahara engagement

China wholesale online through

Houlihan's coupons

Finn autentiske matoppskrifter fra hele verden på
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares

Autentiske matoppskrifter fra hele verden finner du på
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike

Economy - Development

New interest in Morocco oil exploration

afrol News, 26 May - The British oil company Dana Petroleum today announced it had acquired a large interest in the ongoing oil explorations offshore Morocco's town of Safi. Dana, which is also engaged in Mauritania and Senegal, holds that the waters off central Morocco are promising and under-explored.

Dana Petroleum, a small oil company based in Scottish Aberdeen, today announced its new engagement in yet another African country, Morocco. The company, which only produces oil in the British sector of the North Sea and Russia, is also engaged in explorations and production preparations in Mauritania, Senegal, Ghana and Kenya.

The Scottish oil company announced that it had acquired the rights of Global Resource Holdings, LLLP in respect of a 35 percent interest in a reconnaissance contract covering the north-western Safi area offshore the Atlantic coast of Morocco.

The contract covers a large area spanning 6,645 square kilometres with water depths ranging from 300 to 3,000 metres. The remaining 65 percent interest in the reconnaissance contract, originally awarded in April 2004, is held by the operator, Norsk Hydro, a large Norwegian oil and gas company that also has several operations in Africa.

According to Tom Cross, Dana's Chief Executive, the Moroccan acquisition is part of the company's strategy to build a strong presence in the promising but under-explored region. "This new venture builds on Dana's strong exploration position offshore West Africa, where we already hold important interests across Mauritania and Senegal," commented Mr Cross.

In particular Moroccan waters held a great potential for oil explorations. "Being relatively under explored, offshore Morocco offers significant potential which Dana is looking forward to pursuing in partnership with Norsk Hydro and ONHYM, the Moroccan national oil company," the company's executive said in a statement today.

The blocks offshore Safi are safely placed within Moroccan jurisdiction - Safi being located between Casablanca and Agadir. It is one of the few potential oil fields the Moroccan government seeks to explore that go clear of political risks. Other potential fields include areas claimed by both Morocco and Spain's Canary Islands and the waters off the coast of Moroccan-occupied Western Sahara.

Most Moroccan oil explorations have so far been concentrated in these disputed areas. The disputed area between Spain's Canary Islands and the southern tip of Morocco are already known to hold commercially viable oil resources, but exploitation is blocked by popular protests in Fuerteventura, the Canary Island closest to the wells, and a dispute between Rabat and Madrid over the maritime border.

Offshore Western Sahara, the situation is even more confusing. Here, international protest has driven most foreign companies contracted by ONHYM to leave the occupied territory. Only the US company Kerr-McGee still operates here. Meanwhile, the exiled Sahrawi government in 2002 granted exploration rights to the British-Australian company Fusion Oil and recently announced a new round of licensing.

Significant oil discoveries off Mauritania and the Canary Islands indicate that the entire area offshore Western Sahara and Morocco may be holding large oil and gas resources. Also further south, offshore Senegal, Guinea-Bissau and Guinea, large hydrocarbon resources are expected.

- Create an e-mail alert for Morocco news
- Create an e-mail alert for Economy - Development news

    Printable version

On the Afrol News front page now

Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.

front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at