The British company Oil & Gas announced the discovery of an oil field with a potential of 1 billion barrels off the coast of Agadir, in southern Morocco.
The company reported this ambitious discovery in its latest communication published on April 13, and considered the exploration opportunities in this area as "high impact".
The survey license, called Inzegane Offshore, was granted in September 2019 and the prospecting officially began last August, according to the note, which adds that of this deposit, which covers an area of 11,228 square kilometers, the company holds 75% of the exploitation, and the rest is owned by the National Office of Hydrocarbons and Mines of Morocco (ONHYM).
"Inzegane represents high-impact exploration opportunities in an unexplored area of the world," the company explains. It adds that the recent assessment reveals a "significant volume of unrisked recoverable values" of 1 billion barrels of fuel.
Morocco has not yet officially commented on the announcement of the British company, which on its website places the prospecting at a depth of 600 to 2,000 meters within the Agadir basin.
The general director of the Moroccan state company ONHYM, Amina Benkhadra, gave last week before the Chamber of Representatives (lower house of the Moroccan parliament) an assessment of the country's prospecting and pointed out that between the years 2000 and 2022 Morocco surveyed 67 wells, of which 40 were positive for oil or gas.
Seven of the 67 were surveyed in the waters off between the towns of Agadir and Tarfaya, three of them in shallow waters and four in deep waters. In five of those seven (two in the Tarfaya and Ifni area, near the Canary Islands) oil or indications of oil were found.
