- NewMed Energy, Morocco’s National Office of Hydrocarbons and Mines (ONHYM) and Adarco Energy have signed agreements to explore and produce offshore gas and oil in the Southern Moroccan city of Boujdour.
- Adarco Energy and NewMed Energy are each set to hold 37.5% of the interests in the license, while ONHYM will have the remaining 25%, according to Morroco’s standard regulations.
NewMed Energy, Morocco’s National Office of Hydrocarbons and Mines (ONHYM) and Adarco Energy have signed agreements to explore and produce offshore gas and oil in the Southern Moroccan city of Boujdour.
NewMed Energy, formerly known as Delek Drilling, announced on Tuesday that the agreements are part of the “performance of natural gas and oil exploration and production activities in the Boujdour Atlantique exploration license, which is located off the coast of Morocco in the Atlantic Ocean”. The CEO of NewMed Energy, Yossi Abu, said: “From one day to the next, we are expanding our international operations and becoming a global body in every respect. We identified enormous potential in Morocco.”
Adarco Energy and NewMed Energy are each set to hold 37.5% of the interests in the license, while ONHYM will have the remaining 25%, according to Morroco’s standard regulations.