Morocco Onshore Overview
Petroleum Exploration (Pvt.) Limited acquired three contiguous Exploration Permits, Haha NORD, CENTRE & SUD in the Kingdom of Morocco in June 2007. The Haha Permits cover, an area of 4919 square km on the Atlantic coast and lie in the Essaouira Basin, located in West Central Morocco; for a validity period of 8 years with a firm commitment of drilling 1 exploratory well.
PEL as the operator holds 37% of the working interest whereas FORFETRO has 38% and ONHYM, representing the Kingdom of Morocco, has a 25% interest.
PEL in join venture partnership signed a New Petroleum Agreement on July 09, 2015 for the same area named as Haha Onshore (Haha Nord, Haha Centre and Haha Sud) with a validity period of 8 years (2015-2023).
at the signing ceremony of Haha permits in June 2007
at ONHYM office Rabat - Morocco
PEL is the only Pakistani E&P company that is engaged in Morocco’s energy sector.
PEL engaged leading company CGG Veritas for high quality data processing and interpretation, resulting interpreted data conformed to high industry standard. As a result a drillable prospect was delineated.
PEL is confident in the significant hydrocarbon potential of Morocco and intends to further expand its exploration portfolio.
Based on the technical work, PEL in collaboration with FORFETRO & ONHYM, the Moroccan State Petroleum Company; the first exploratory Tamanar Well which was completed on April 17, 2015. Second exploratory well was drilled down to a depth of 4306m and is currently suspended.