Morocco’s Untapped Oil Potential: Offshore Deposits Estimated at 2 Billion Barrels

The Moroccan subsoil is endowed with oil, but it still needs to intensify its exploration. "We are confident in the oil and gas potential of our country. History is full of examples of countries that have taken a very long time and a lot of effort before achieving a major discovery," the director stressed in an interview with the MAP.

For Ms. Benkhadra, "perseverance" will be needed, particularly in terms of research, to reap the fruits of several years of waiting.

To this end, she recalls that oil exploration is a long, highly costly and very risky process, because even in the event of a discovery, assessment operations and many more drillings are necessary to estimate and prove the reserves in place before starting the development phase.

The DG of ONHYM estimated that these different stages can last several years depending on the nature and type of deposits before entering the production phase, noting that "more than 97% of investments are carried out by foreign partners on their exploration permits and several areas have potential both onshore and offshore, especially since the offshore basins cover nearly 300,000 km² and contain only 42 drilled wells".

However, Morocco will continue to be considered a country with economic risks for oil and gas exploration until a first major discovery is made, which has an impact on the commitment of international companies, Ms. Benkhadra stressed.