Mubadala to explore for oil & gas offshore Morocco
Abu Dhabi's company to carry out survey of an area off the Mediterranean coast
Abu Dhabi- based E&P company Mubadala Petroleum said on Wednesday it had agreed with the Moroccan government to explore for oil and gas in a large area offshore Morocco, Reuters has reported.
The company, a subsidiary of Abu Dhabi state-owned fund Mubadala Development Co, will carry out a detailed geological survey of an area off the Mediterranean coast sprawling across some 3,433 sq km.
Mubadala will provide the Moroccan government with its findings, when the survey is completed.
The company did not give out any details on the timetable of the exploration process or the prospects for finding oil or gas in the surveyed area.