Oil discovered in the Atlantic off coast of Morocco

A major breakthrough for the Moroccan economy?

Arcana Intellego

Wednesday, 22 October 2014 15:35

If the oil deposits are valuable enough, Morocco may require to a deep sea drilling platformIf the oil deposits are valuable enough, Morocco may require to a deep sea drilling platform

There are clear indications that oil has been discovered off the coast of Sidi Ifni, a city in southern Morocco, the National Office of Hydrocarbons and Minerals revealed.

According to a statement, this discovery was made with the help of three oil companies: Genel Energy, Serica Energy and San Leon. The oil was detected on October 16 and is said to be located 59 kilometres off the coast of Sidi Ifni. Exploration projects began in the area last July.

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