Mubadala Petroleum signed an agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) to carry out an evaluation of the hydrocarbon potential of a large area offshore Morocco’s Mediterranean coast, the Abu Dhabi-based firm said Wednesday.
Under the agreement, Mubadala Petroleum will hold an exclusive reconnaissance license to carry out detailed geological evaluation of the hydrocarbon potential of an area designated as Mediterranee Ouest, which covered an area of 1,325 square miles (3,433 square kilometers) offshore Morocco. Mubadala Petroleum will provide ONHYM with the results of its evaluation on completion.
The agreement was signed in Casablanca, Morocco by Mubadala’s Energy CEO Dr. Sultan Al Jaber on behalf of Mubadala Petroleum and Amina Benkhadra, general director, ONHYM.
“We very much hope this agreement will pave the way for further co-operation with ONHYM both on the more detailed exploration of the Mediterranee Ouest area and in other projects,” Mubadala Petroleum CEO Musabbeh Al Kaabi said in the press release.
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