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Morocco has signed three exploration contracts with three international oil companies from Cyprus, Canada and Malaysia, MAP news agency reported.

The agreements were signed, on the sidelines of the 4th conference "Maghreb & Mediterranean Oil and Gas 2006" in Marrakech, by Amina Benkhadra, general director of the National Office of Hydrocarbons and Mines (ONHYM), with the representatives of Cabre Maroc Ltd (Cyprus), Transatlantic Maroc Ltd (Canada) and Genting Oil Morocco Ltd (Malaysia).

These bring the number of agreements signed with ONHYM in the mining sector to 17 agreements and six reconnaissance contracts in collaboration with 20 partners.

The contracts cover a total area of 237,195,40 km2, providing for four exploration concessions, 85 research permits (14 onshore and 71 offshore) and six onshore reconnaissance authorisations.

The Minister of Energy and Mining, Mohamed Boutaleb, invited on Wednesday international oil companies to benefit from morocco's potentials.

“Morocco, with its 350,000 km2 of sedimentary basins, constitutes an interesting and practically virgin zone for oil drilling,” he underlined.

“Although we are satisfied with the quality of cooperation with the oil companies operating in Morocco at present, our subsoil is still under-tapped,” he added.
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I also think it's true. It would be the best if they started as fast as possible gaining that oil and gas because I think that gas and oil will lose a lot of importancy in the next 50 years and that electricity will become more important. I think in the future for exemple electric cars will be more used than cars on oil for exemple.
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Please can you eloberate why ?
For some countries finding oil/valuable minerals is a good thing (Norway, Canada, Qatar, UAE) and for others a very bad thing (Nigeria, Algeria, Congo, Russia). This difference results from how strong the national institutions and government are and how educated your people are.

Countries with abundant valuable minerals without strong institutions tend to become more closed economies and subsidy many things like food and homes. On the short term this will make your citizens happy. But those nations seem to become less innovative and fall behind. The solution of those governments is to give more subsidies, till the ruler’s notice they start to lack money. In this case most governments tend to invest in security to keep every person that criticizes its policies silent. In case there is a lot of corruption or you have a dictator it's almost a fact that most money stays with the rich people and the government becomes more oppressive towards its citizens. Only exceptions are small countries and countries with extremely large amounts of valuable minerals such as Qatar and Saudi Arabia. Those kinds of countries just can keep subsidizing everything and buy the silence/satisfaction of their citizens. The good exceptions are the good educated countries with strong institutions that are democratic. In Norway for example actually everybody is a millionaire.

Let us be honest to ourselves. Unfortunately in Morocco we still have weak institutions, a lot of corruption, a (good) dictator etc. In this scenario we probably just will become another Algeria or Nigeria. In Morocco I have finally the feeling things improve. Human rights are discussed every day in the media, the problem of education and health is discussed and infrastructure is improving. If we find oil/minerals it would only slow down this process or we'll even go backwards. If we are more democratic and have stronger institutions with little corruption I would be the first one who would want our nation to find oil. Maybe in 2030. Otherwise we only will become lazier and find finance for the security forces and media of our leaders that probably will only try to oppress us.
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The price of brent crude oil seems to be again under 60 dollars
From this article I understand that Charliot is saying that from 2024 morocco can produce 50 % of its gas needs and in 2030 100% of its gas needs from the Anchois discovery. That would be nice! Maybe Morocco could reach earlier 100% due to other discoveries in the country.
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