Morocco’s ONHYM Plans $690 Million Investment in Oil and Gas Exploration

In an interview with the newspaper L’Economiste, ONHYM Director Amina Benkhadra indicated that the budget forecasts for the year 2019 amount to 38 million dirhams and 2.4 billion dirhams from its partners, an amount that mainly focuses on the acquisition of 1,300 km² of 2D seismic and the drilling of 7 exploration wells and 2 development wells.

She also stated that the office intends to continue oil exploration and the development of three projects: Tendara, the extension of Meskala production and the continuation of production in the Gharb, with the drilling of several wells.

And to recall that the work carried out in the Tendrara basin has shown the presence of gas and the studies carried out converge towards the start of production for the year 2021.