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.