|
Morocco and Norwegian company sign off-shore oil prospecting deal
Morocco-Norway, Economics, 4/24/2004
Morocco signed this Friday with Norwegian company "Norsk Hydro Produksjon" an agreement under which the company will conduct reconnaissance and evaluation of oil potential offshore Safi, south of Casablanca.
The 12-month accord gives Norsk Hydro a license offshore Morocco over an area of 7,000 square kilometres with a water depth that ranges from 300 to 3,000 meters.
The company will carry out geological studies, seismic reprocessing and collation of 2D seismic data.
The Moroccan hydrocarbons office (ONAREP) says the new deal comes to consolidate both on-shore and off-shore reconnaissance and oil contracts recently concluded by Morocco after adopting a more attractive legislation.
On Monday, the office signed an exploration agreement with Danish Maersk Oil giving the firm eight licenses for exploration on the southern shores of Tarfaya, Morocco. Maersk Oil will provide ONHYM with 2-D and 3-D seismic data and will carry out geological studies to evaluate the hydrocarbon potential of a 15,000 square kilometer area.
Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.
|
Advertise on ArabicNews.com. MyFlowers.com sold more than $2700 of flowers in one month advertising on ArabicNews.com! Make your company, and products a success. Special rate for new and small business. Inquire!Advertising Info
|
