Woodside Petroleum signs Morocco licence
Woodside agreement signals renewed interest in Morocco's offshore potential
Australia’s Woodside Petroleum was awarded a reconnaissance license to further expand its role in Morocco’s oil and gas exploration efforts.
The permit will give Woodside exclusive access to the Rabat Ultra Deep Offshore in Morocco’s Doukkala basin.
The agreement will include a 2D survey and geological studies spanning over 12 months and subject to ministerial approval.
The Doukkala basin is located next to a block, which the Australian company settled into jointly with Chariot Oil and Gas in July this year.
2014 saw a number of larger oil and gas companies arriving in Morocco to explore the country’s offshore potential.
Smaller operators like San Leon Energy and Longreach Oil and Gas and major international oil companies will join efforts to drill more than ten wells over the next year- more than twice what the country has seen over the last ten years.
Since January, BP, Chevron and Cairn have all announced new projects or buy-ins to existing efforts, despite previous failed attempts to find commercially viable oil and gas reserves.