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Morocco signs $1.1 million deal with U.S. Vanco company
Morocco, Business, 9/3/1998
Morocco signed Wednesday in Rabat a $1.1 million deal with U.S. Energy Company "Vanco" for oil prospecting in the Moroccan Atlantic waters.
Under the 18-month contact, the U.S. company will carry out deepwater reconnaissance drilling over a 18,700 square km offshore zone and conduct seismic and geo-physic studies.The contract also provides for the scientific training of Moroccan engineers in oil exploration techniques and know-how.
It is the ninth prospecting contract Morocco passed with foreign companies which invested nearly $10 million.
Previous Stories:
Egyptian flag carrier denies problems in Cairo - Casablanca flight
(9/2/1998)
Aramco to sign oil contracts with Morocco
(8/28/1998)
Morocco launches low-cost mountain bikes
(8/27/1998)
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