Morocco Grants Gas Exploration License to Israeli-Moroccan Partnership Off Boujdour Coast

The Moroccan authorities have granted a natural gas exploration license off the coast of Boujdour, in the Moroccan Sahara, to the Israeli gas producer NewMed Energy and the Moroccan company Adarco Energy, it has been learned. In December 2022, NewMed Energy had signed an agreement with the Ministry of Energy Transition and the Moroccan company Adarco Energy for the exploration and production of natural gas in this region.

According to the terms of the agreement, NewMed and Adarco each hold a 37.5% stake in the Boujdour Atlantique exploration permit, located off the Moroccan coast in the Atlantic Ocean, while the National Office of Hydrocarbons and Mines (ONHYM) holds the remaining 25%.

This "Boujdour Atlantique" license is part of Morocco’s strategy to strengthen its investments in the energy sector and reduce its dependence on gas imports by developing its natural resources.