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Morocco’s open acreages and petroleum agreements.
Qatar Petroleum’s decision to invest in three of Chevron’s Moroccan blocks suggests the country’s offshore acreage still holds appeal for cash-rich investors looking to take advantage of low oil prices.
QP announced on 8 February it had bought a 30% share of the Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep licences, which cover almost 3 million hectares off the Moroccan coast. Chevron will retain a 45% share and Morocco’s Office National Des Hydrocarbures Et Des Mines (ONHYM) will keep a 25% stake.
