Casablanca, Morocco- Following the recent visit of the Emirates’ Crown Prince, Sheikh Mohammed bin Zayed Al Nahyan to Morocco, an event which saw King Mohammed VI and the Crown Prince proceed jointly to the inauguration of various local projects, in addition to the signing of several partnership agreements between UAE and Morocco, Abu Dhabi’s Mubadala Petroleum said it “has reached an agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) to carry out an evaluation of the hydrocarbon potential of a large area offshore Morocco’s Mediterranean coast.”
In the wake of this agreement, Mubadala Petrolium said it has received “an exclusive reconnaissance license to carry out detailed geological evaluation of the hydrocarbon potential of an area designated as Mediterranee Ouest,” an area comprising 3,433 square kilometers offshore Morocco.
Mubadala Petroleum will also provide ONHYM with the results of its evaluation on completion.
Commenting on the agreement, Musabbeh Al Kaabi, Chief Executive Officer of Mubadala Petroleum, said, “We are pleased to be able to build on the strong relationship between the U.A.E. and Morocco in this tangible way. We very much hope this agreement will pave the way for further co-operation with ONHYM both on the more detailed exploration of the Mediterranee Ouest area and in other projects.”
The Moroccan Times.