Aramco to sign oil contracts with Morocco

Morocco will sign next September a contract with world leading oil prospecting company Aramco, Moroccan energy minister Youssef Tahiri said thursday without revealing the amount of the contract.

In a statement reported by Moroccan Al Bayane daily, the Moroccan minister said his department is planning to conclude five other oil prospecting contracts this year.

Several foreign petroleum companies are interested in doing business with Morocco and launch project in oil prospecting and research studies, the Moroccan minister added.

Tahiri also affirmed that his department intends to provide annually 1,500 villages with electricity.

This project will cost usd 100 million and will benefit 100,000 families, he added.