Morocco grants Spain's Repsol 3 offshore prospecting licenses

Morocco granted Friday Spain's Repsol Exploracion Anonymous three licenses of offshore prospecting in the 6,000 km2 "Tangiers-Larache" zone (north). The licenses cover 8 years divided on 3 periods, each concerning a specific kind of research.

The deal was signed by director general of the national office of oil research and exploitation (ONAREP), Amina Benkhadra, and Repsol's exploration director general, Bartolomeo Mario Rosso, in the presence of Moroccan energy and mining minister, Mohammed Boutaleb and Spanish ambassador in Rabat, Fernando Arias Salgado Y Montalvo.

A total of 85% of Morocco's prospected surfaces are offshore, Boutaleb said during the signing ceremony, voicing his department's readiness to assist Repsol in achieving its projects.

Morocco is already bound with several international groups by 15 oil onshore and offshore agreements.