Amina Benkhadra, the director general of the National Office of Hydrocarbons and Mining (ONHYM) said that several studies carried out by the ONHYM alongside several of its partners have shown the existence of petroleum systems and several potential deposits.
Speaking to the Moroccan newspaper Al Sahrae Al Maghribya, Amine Benkhadra said that prospects for oil exploration in Morocco are promising. She added that the overall budget for oil exploration is around 5 billion MAD in 2014.
Benkhadra said that several agreements were signed with over 30 specialized companies. The ONHYM had allocated a total of 58 million dirhams to fund oil exploration last year while ONHYM partners contributed with a total of 2.337 billion dirhams.
The Moroccan Times.