Morocco’s Ministry of Energy Transition and Sustainable Development has granted three new hydrocarbon exploration permits. These permits have been jointly awarded to the Office National des Hydrocarbures et des Mines (ONHYM) and the British oil company Genel Energy Morocco Limited.
These permits pave the way for the discovery of new hydrocarbon resources over a period of one year and six months from June 2, 2023 for each zone concerned.
Last March, Genel Energy announced the signature of an agreement with the Office National des Hydrocarbures et des Mines concerning the Lagzira zone. This agreement is valid for a full exploration period of eight years, in three exploration periods, with attractive fiscal conditions.
Source: Africa News Agency