Forbes: Moroccan Shale Shows Potential, Just In Time

This past week, it was reported that San Leon Energy produced the first oil shale from its Timahdit license, roughly eight months after it signed an MoU with Chevron Lummus Global related to technologies needed to “produce synthetic crude oil from raw shale oil” in the area. The news comes just as investors in the country’s untapped energy sector have begun to express frustration with the progress of exploration and production.

San Leon also announced the spudding of an offshore well.

For Morocco, a domestic production future is vital to creating some level of economic independence. While sharing the North African coast with some of the continent’s largest oil and gas producers, Morocco currently imports about 95 percent of its energy needs, putting it in a precarious situation where energy prices can, and have, skyrocketed overnight.
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