ExxonMobil to explore blocks off Morocco

ExxonMobil has signed contracts to explore two blocks offshore Morocco, Upstream Online reported on Wednesday.The company signed the deals for the shallow-water blocks with state hydrocarbons agency ONHYM. The names of the blocks were not specified in the report, and ExxonMobil has yet to release a statement on the matter.

The new exploration bid presents a point of hope for Morocco, where offshore exploration has yielded few positive results over the years, the report noted.

The country’s sole successful offshore find is Repsol’s 2009 Anchois gasfield discovery, which now lies in the Energean-operated Lixus licence, home to five exploration wells. Chariot and ONHYM holds stakes in the licence alongside Energean.The gasfield is estimated to hold more than 28.3 bcm (1 tcf) of recoverable resources.