RTÉ News Now
Exploration company Circle Oil has said it has found a significant gas discovery in Morocco.
The find follows preliminary results of drilling of its KSR-12 well in the Sebou Permit, onshore Morocco and the company said the find was the thickest gas sand interval to date of its Sebou wells.
“We believe that this well will add significant volumes to our reserves for potential gas production and at rates not subject to oil price fluctuation,” commented the company’s chief executive Professor Chris Green.
This is the third well of a six well programme to be drilled with Circle’s partner ONHYM in the Sebou permit and is coupled with another six well programme in the Lalla Mimouna permit, he added.
Circle Oil has operations in the Middle East and North African areas.
