Petroleum Africa
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Thursday, December 21, 2017
ENI added to its acreage in North Africa with the signing of a Petroleum Agreement (PA) with Morocco’s state-run oil and gas company, ONHYM. The PA covers ENI’s entrance into the Tarfaya Offshore Shallow exploration permits I-XII.
Following the agreement, which is subject to the authorization of the Moroccan authorities, ENI will be the operator of the license with a 75% stake, while ONHYM will retain a 25% stake. The exploration rights cover an area of 23,900 sq km, with a water depth ranging from zero to 1,000 meters, and with liquid hydrocarbons potential in place.
ENI is already present in Morocco through its operatorship in the Rabat Deep Offshore license (ENI 40%, ONHYM 25%, Woodside 25%, Chariot 10%) and the El Jadida Offshore license (ENI 75%, ONHYM 25%),
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