Mubadala Petroleum signed an agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) to carry out an evaluation of the hydrocarbon potential of a large area offshore Morocco’s Mediterranean coast.
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Signing of contract. From Mubadala. |
The agreement provides Mubadala Petroleum with an exclusive reconnaissance license to carry out detailed geological evaluation of the hydrocarbon potential of an area designated as Mediterranee Ouest. This is an area comprising 3433sq km offshore Morocco. Mubadala Petroleum will provide ONHYM with the results of its evaluation on completion.
The agreement was signed on behalf of Mubadala Petroleum by Mubadala’s Energy CEO, H.E. Dr. Sultan Al Jaber and Amina Benkhadra, ONHYM general director at a ceremony held in Casablanca.
“We are pleased to be able to build on the strong relationship between the UAE and Morocco in this tangible way,” says Musabbeh Al Kaabi, Mubadala CEO. “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.”
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