Offshore staff

ABU DHABI, UAE – Mubadala Petroleum has signed an agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) to evaluate the hydrocarbon potential of a large area offshore northern Morocco.

The agreement gives Mubadala an exclusive reconnaissance license to conduct a detailed geological evaluation of the hydrocarbon potential of the 3,433-sq km (1,325-sq mi) Mediterranee Ouest area.

On completion, the company will provide ONHYM with the results of its evaluation.

Musabbeh Al Kaabi, Mubadala’s CEO, said: “We very much hope this agreement will pave the way for further cooperation with ONHYM both on the more detailed exploration of the Mediterranee Ouest area and in other projects.”

03/19/2015