Eni Wins New Moroccan Offshore Block
Eni has signed a petroleum agreement December 20 with Moroccan state upstream producer ONHYM to enter into the Tarfaya Offshore Shallow exploration permits I-XII, in the Atlantic Ocean.
The Italian major will become operator with a 75% stake, while ONHYM will retain a 25% stake, once it has regulatory approval. The areas awarded cover 23,900 km2, with a water depth ranging from zero to 1,000 metres, and with liquid hydrocarbons potential in place, it said December 20.
It will enlarge Eni's existing position offshore Morocco, in line with the company's objective of extending its exploration portfolio in basins of high hydrocarbon potential. Eni is already present in Morocco through its operatorship in the Rabat Deep Offshore licence permits I-VI (Eni 40%, ONHYM 25%, Woodside 25%, UK-based Chariot 10%) for which its farm-in was completed January 2017, and also the El Jadida Offshore licence (Eni 75%, ONHYM 25%).
Other explorers offshore Morocco include Chevron, which has three operated blocks (with a 45% interest) awarded 2013 offshore Agadir, in which its partners are Qatar Petroleum 30% and ONHYM 25%. Onshore explorers include junior independents Sound Energy, which December 20 released increased certified volumes for its medium-sized Tendrara TE-5 gas reserves, and SDX Energy.