QP, Chevron Ink Offshore Moroccan Deal
three deep-water offshore leases in the Kingdom of Morocco. Under the agreement, which was approved by the Moroccan government, Qatar Petroleum will acquire the 30% interest in the deep-water leases, while Chevron will retain a 45% interest and remains the operator and Morocco's Office National Des Hydrocarbures Et Des Mines will continue to have a 25% interest. The three offshore areas are Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep. Saad Sherida Al-Kaabi, President and CEO of Qatar Petroleum, expressed pleasure at the finalization of the agreement, which he described as “an important
Kosmos Energy's Update
CB-1 well was drilled on plan to a total depth of 5,700 meters at a net cost to Kosmos of approximately $85 million. Kosmos has held rights to conduct exploration activities in the Cap Boujdour permit area since 2006 under a petroleum agreement with the Government of Morocco’s Office National des Hydrocarbures et des Mines (ONHYM). Kosmos operates the Cap Boujdour license with 55 percent equity and is joined by its partners ONHYM (25 percent) and Capricorn Exploration and Development Company Limited, a wholly owned subsidiary of Cairn Energy PLC (20 percent).
Woodside to Pick up Moroccan Acreage
Woodside advises that it has entered into a contract for an exclusive Reconnaissance Licence (RL) with the Office National des Hydrocarbures et des Mines, the National Oil Company of the Kingdom of Morocco, to explore a block offshore Morocco. The block, known as the Rabat Ultra Deep Offshore area, comprises a total of 36,737 km2 with depths ranging from 1700m to 4400m. The block is located just west of the Rabat Deep Offshore I-VI permits, in which Woodside has acquired, subject to Ministerial approval, a 25% interest. Commitments under the RL work program include a 2D seismic
Chariot Oil & Gas Investments & Woodside Sign Agreement
, in return for paying 100% of the 3D seismic acquisition and processing costs incurred across the licence by Chariot, as well as all back costs and a carry on planned multibeam side-scan sonar and seabed coring. Chariot will remain Operator with a 50% equity interest, with the Office National des Hydrocarbures et des Mines ("ONHYM") retaining a 25% carried interest. As part of the agreement, Woodside has an option to acquire a further 25% of Chariot's equity and become Operator of the licence in return for a full well carry up to an agreed cap consistent with other farm-outs concluded
Chevron Needs 2.5 Years to Decide on Morocco Prospects
U.S energy major Chevron needs at least two and a half years to gather seismic data before deciding whether to stay in Morocco, the head of its Moroccan affiliate said on Wednesday. In January, Chevron Morocco Exploration Ltd signed an agreement with Morocco's Office National Des Hydrocarbures Et Des Mines (Onhym) for three deepwater blocks in one of the less explored areas in the region. Vice President and Country Manager at Chevron Morocco Exploration, Carl Atallah, told Reuters the company was still in the early stages of exploration. "We plan two and a half years
February 2025
