Mubadala to assess potential offshore Morocco

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.

Offshore staff

ABU DHABI, UAEMubadala 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

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