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Sunday, November 12, 2017
Genel Energy came to an agreement with the Moroccan government over the nature, scope and timing of the activity related to the remaining exploration commitment on the Sidi Moussa offshore license.
Under the terms of the agreement, Genel’s previous commitment to drill one well on the license has been replaced by an undertaking to carry out a 3D seismic campaign across the Sidi Moussa acreage. Planning has commenced, with seismic acquisition expected to begin in 2018. The 3D seismic is expected to materially de-risk the prospectivity of the Sidi Moussa license.
The current phase of the license has been extended until February 2020.
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