ça bouge dans l'exploration pétrolière au Maroc

el jadida

el jadida/mazagan beach
Anglo-Turkish oil firm Genel Energy(LON:GENL) has struck a deal to acquire a 60 per cent interest in the Sidi Moussa offshore block, in Morocco.
The deal, with a group of three junior explorers, is one of three agreed this week by Genel - it has also sealed a major gas acquisition in Iraqi Kurdistan, and made a move into Malta.
And it also follows Genel’s last month’s entry into Morocco. In today’s Moroccan deal Genel is paying US$1.3 upfront in respect of past costs, and importantly it is committing to cover future drilling costs of up to US$50 million.
"We are delighted to have reached this agreement to farm in to the Sidi Moussa Offshore Block, which together with other acquisition activity, is establishing a material position for Genel Energy in Morocco,” said Dr John Hurst, Genel chief operating officer.
“It is consistent with our strategy of building a portfolio of high impact exploration assets within the Middle East and Africa."
Going forward, Genel will be the majority partner in the Sidi Moussa venture, with its junior partners Serica Energy(LON:SQZ) owning 5 per cent, San Leon (LON:SLE) with 8.5 per cent and Longreach Oil & Gas (CVE:LOI) owning 1.5 per cent.
The Moroccan authorities, via the Office National des Hydrocarbures et des Mines (ONHYM), retain a 25 per cent carried interest in the venture.
Extensive geological and geophysical work has been carried out by the Sidi Moussa partners in the past two and a half years.
“The work undertaken on the Permits has shown considerable opportunities and bringing in a company such as Genel will enable the partners to conduct near term exploration drilling on this licence," said Longreach chief Bryan Benitz.
 

el jadida

el jadida/mazagan beach
Anglo-turc Genel Energy cabinet d'huile (LON: GENL) a conclu un accord pour acquérir une participation de 60 pour cent dans le bloc de Sidi Moussa en mer, au Maroc.
Le contrat, d'un groupe de trois explorateurs juniors, est l'un des trois ont accepté cette semaine par Genel - il a également scellé une acquisition importante de gaz dans le Kurdistan irakien, et fait un geste à Malte.
Et il suit également l'entrée le mois dernier Genel de l'au Maroc. Dans l'accord d'aujourd'hui est marocain Genel payer d'avance US $ 1,3 en ce qui concerne les coûts passés, et surtout, il s'engage à couvrir les coûts de forage futures allant jusqu'à US $ 50 millions.
«Nous sommes ravis d'avoir conclu cet accord à la ferme pour le bloc de Sidi Moussa Offshore, dont l'ensemble des activités d'acquisition d'autre part, met en place une situation matérielle de l'énergie Genel au Maroc", a déclaré le Dr John Hurst, directeur général délégué Genel.
«Il est conforme à notre stratégie de construction d'un portefeuille d'actifs d'exploration d'impact élevées au sein du Moyen-Orient et en Afrique."
À l'avenir, Genel sera le partenaire majoritaire dans l'entreprise Sidi Moussa, avec ses partenaires juniors de l'énergie Serica (LON: SQZ) détenant 5 pour cent, San Leon (LON: SLE) avec 8,5 pour cent et de pétrole et de gaz Longreach (CVE: LOI) propriétaire de 1,5 pour cent.
Les autorités marocaines, en passant par les mines Office National des Hydrocarbures et des (ONHYM), conservent une participation de 25 pour cent effectués dans l'entreprise.
D'importants travaux géologiques et géophysiques ont été réalisés par les partenaires de Sidi Moussa dans les deux ans et demi d'années.
«Le travail entrepris sur les permis a montré des opportunités considérables et la mise dans une société telle que Genel permettra aux partenaires de procéder à près de forage d'exploration terme sur cette licence», a déclaré le chef Bryan Benitz Longreach.
 

el jadida

el jadida/mazagan beach
Genel Energy PLC : Morocco Farm In
08/23/2012 | 03:12am US/Eastern
23 August 2012

Genel Energy plc

("Genel Energy" or the "Company")

Genel to farm in to Sidi Moussa Offshore Block, offshore Morocco and assume operatorship

Genel Energy announces that it has agreed to farm in for 60 per cent of the licence interests to explore for and produce oil and gas in the Sidi Moussa Offshore Block, offshore Morocco ("Sidi Moussa")(the "Transaction"). As part of the Transaction, Genel Energy will assume operatorship.

The current holders of Sidi Moussa comprise Serica Sidi Moussa B.V, San Leon Offshore Morocco B.V and Longreach Oil and Gas Ventures Limited, who collectively hold a 75 per cent equity interest (the "Vendors"). The remaining 25 per cent interest is held by the Office National des Hydrocarbures et de Mines ("ONHYM"). Under the terms of the Petroleum Agreement governing Sid Moussa, costs relating to ONHYM's 25 per cent interest are carried in full during the exploration and appraisal stage.

Under the Transaction, Genel Energy will acquire a 60 per cent participating interest in Sidi Moussa from the Vendors pro rate according to their equity interests. The consideration comprises an initial payment of $1.3 million in recognition of past costs plus an exploration carry for the drilling of the commitment well required in the First Extension Period, of up to the first $50 million gross cost. These will be funded from the Company's existing cash resources.

The Sidi Moussa Offshore Block is located offshore Morocco approximately 75 kilometres south west of Agadir. It covers an area of 7,624 square kilometres and lies in water depths between zero and 1,250 metres. Only one well has been drilled within the Sidi Moussa Licence area. Extensive 2D & 3D seismic work has been completed on these licences leading to the identification of a number of leads and prospects and confirming significant resource potential.

The Transaction is conditional on the receipt of approval from the Government of Morocco.

Commenting on the transaction, Dr. John Hurst Chief Operating Officer of Africa for Genel, said:

"We are delighted to have reached this agreement to farm in to the Sidi Moussa Offshore Block, which together with other acquisition activity, is establishing a material position for Genel Energy in Morocco. It is consistent with our strategy of building a portfolio of high impact exploration assets within the Middle East and Africa."
 
Haut