As expected, and right after the Moroccan Press Agency reported Moroccan authorities saying the Discovered oil in the Juby Maritime region is deemed noncommercial, UK independent Cairn Energy has confirmed the news saying it has hit heavy oil and has elected not to test the well.
Cairn said also it had plugged and abandoned another well, two kilometers away, without testing as they expect the same results.
The company said: “Reservoir quality and the oil gravity in the Upper Jurassic across the Cap Juby structure require further evaluation by Cairn and its joint venture partners,”
“Work is ongoing to correlate the core and log data from JM-1 with other wells on Cap Juby to evaluate the extent of moveable hydrocarbons and how any further assessment should be conducted.”
It is worth pointing out that Cairn has a 37.5% interest in the the Juby Maritime 3 licence while Genel Energy has a 37.5% interest and Moroccan state-run National Office of Hydrocarbons & Mines makes a 25% stake.
The Moroccan Times.
