Oil and Gas in Marocco

Many of us think the oil and natural gas exist only in a few countries, but now days the search for this called “black gold” it’s became more competitive and expansionist that we ever can imagine.

On May 1st, the search of oil from Longreach Oil & Gas in Morocco start whit an investigation in the zone for a new investment from the British company. “Several years ago overhauled its oil and gas laws to open the doors to foreign investment” say John Kingston in the Platts/Oil Council podcast that celebrates in that county.

Longreach Oil & Gas largest British firm in the field of exploration and extraction of oil and gas is the most interested in this new opening by the Moroccan government, which is a very good investment opportunity and business for this, since it is believed that less than 150,000 square miles to explore potential areas have been attacked by various mining companies that flood the country.

The company has located its interest in the north of the country “last under-explored basin in North Africa,” says Andrew Benitz. Which is viewed with great interest, as opposed to Lybia and Algeria, Morocco, the state participation in foreign investment in general does not take much involvement or interest.

The opportunity to find oil and gas in Morocco starts again for different investor who wants to explode the potential in the zone. However there are not confirmed locations to extract the precious treasure. The fiscal terms are some of the most attractive for such projects worldwide investment the state receives 25 percent of any project and a royalty of 5 percent if there is gas, which rises to 10 percent for oil, if we talk about the quantities produced annually, is a low figure compared.

Although there are several companies that extract oil in this country today, such as Brazil so Petrobras, Shell, Total Maroc among others, the exploration has been arrested in recent years known as the wells are already in the hands of different extractive large and small.

Exploration for oil in Morocco first Began in 1929 and by 1939, production was 5.000 tons / year of oil, and has been increasing over the years. Most production of oil and gas well just as the exploration of areas in the areas of Basin Essaouira Rharb boomed in the decade of the 70’s, where I have to present to turn these areas into a total exploitation of 29.000 square kilometers and some of the most important in the country.
This is an opportunity for many small independent exploration companies to do business, and also for the country to keep economy move.

Bachir Ben Barka, says “This is an opportunity for all to increases our economy”, whit the new exploration an extraction, Morocco could improve a new plan for investment, also whit the new tourism plan by Yassir Zenagui ministry of tourism the new Morocco economy get rise in a new form that is convenient for everyone.

Jesus Alcantara Landa
Danira Milosevic
Linn Andersson
& Angela Gutierrez Moreno


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