New Gas Discovery off Moroccan Coast Prompts Cautious Optimism

"It is still premature to give a precise estimate of the gas volume, because from what I understand, we will return to the first well (Anchois-1, editor’s note) in order to confirm the discoveries of the Anchois-2 well. In 2019 already, the company had announced a gas potential in this region, estimated at around 22 billion cubic meters. This is a preliminary estimate. Additional exploration will still need to be carried out, which will take a few more months," commented Taoufik Laâbi in an interview with TelQuel.

According to him, it is very difficult to say from what volume it becomes interesting for production. "Obviously, the volumes must be incentive and it must be a sustainable operation over time, but each company will give you a different figure. It depends on the investments that have been made, the duration of the exploration, there is a whole set of factors that come into play," explained the energy consultant.

Regarding the possibility of connecting this well to the Maghreb-Europe gas pipeline, he indicated that there are several factors that would favor this. "The proximity to the gas pipeline, but this assumes that a new section will have to be built to connect the well to the existing pipeline," he further explained, recalling that before the connection to the gas pipeline, there are already in the Larache region a certain number of electricity production sites belonging to the National Office of Electricity and Water (ONEE), which generate electricity from gas through a combined cycle.

What about the risk of speculation in Chariot Oil & Gas’ announcement? "We must still remain cautious. The fact that ONHYM confirms these results is a good sign, but we must not go too fast. The most important thing is not to abandon the gas development plan that Morocco has been pursuing for a few years and which consists of developing liquefied natural gas (LNG) terminals," concluded the expert.