Morocco signs oil exploration contracts with foreign companies

The Moroccan National Office for Oil Researches and Investments (MNOORI) recently signed a contract with the British Summer New Land to explore oil in the Suyra area. The MNOORI confirmed that the company will spend $ 1.67 million within 12 months.

Since it was set up in 1961, the British company has worked in a number of countries in the field of oil exploration and production, the volume of its projects exceeds $1 billion per year.

The MNOORI had also signed two contracts with the Swedish company "Rod," the first to explore oil in the Dakla area. The duration of the contract is 6 months and the exploration operation will cost $100,000. The second is in the area of Tezenit, the duration of the contract is one month and the exploration operation will cost $200,000.

The MNOORI also signed two contracts with the Oil Sharifa company. Through the first contract Al Sharifa will explore oil in the areas of Sidi Fily and Mawlai Buslaham. The duration of the contract is 8 years with a cost of $120,000 dirham. Through the second contract Al Sharifa will explore the natural gas in Wilad Baria in the Konaitera province.