Oil firms step up exploration in Morocco's Atlantic waters | ASHARQ AL-AWSAT

Oil firms step up exploration in Morocco's Atlantic waters | ASHARQ AL-AWSAT:

"Oil companies are stepping up exploration in Morocco, attracted by its stability relative to other parts of North Africa and encouraged by advances in geology and technology that indicate its potential for reserves offshore.
Independent explorers have snapped up rights to explore offshore blocks over the past 18 months, and they are now making way for big players seeking acreage in a nation once dismissed as the energy-poor neighbor of OPEC members Algeria and Libya.

Damon Neaves, managing director of Australia’s Pura Vida Energy, said 10 exploration wells would be drilled off Morocco in the next 12 to 18 months, compared with only nine since 1990, according to analysts’ estimates."

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