Canadian Oil and Gas Companies in Morocco

abarrelfullabarrelfull wrote on 21 Dec 2011 15:25
Tags: morocco tsx

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Morocco is the poor relation when it comes to hydrocarbons in North Africa. Algeria and Libya are major players, and Egypt has significant resources as well. Morocco?

Net Importer - 78% of gas consumption and 99% of oil consumption

There are a number of companies working to change that. The belief is that the country has been ignored, and there are hidden gems to be found.

Three companies quoted on the TSX are currently working in Morocco.

  • Transatlantic Petroleum has interests in 3 areas
  • Serica Energy has a 25% interest in the Foum Draa and Sidi Moussa exploration licences offshore
  • Long Reach is a company that only focuses on Morocco and has four proerties both on and offshore.

There is reason to believe that there may be something exciting to be found in Morocco. Kosmos Energy has activities there, and they are the company that discovered the Jubilee Oil Field in Ghana in 2007, one of the most exciting finds in recent years.

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