Operations in Morocco

Foum Draa & Sidi Moussa

Foum Draa – Offshore Morocco

Serica 25%, Island Oil & Gas 50% (operator), ONHYM 25%

The Foum Draa Petroleum Agreement covers an area of 5090 square kilometres and lies in water depths between 1250 and 2000 metres offshore Morocco, south west of the city of Agadir.

The Agreement covers a highly under-explored area of the northwest Atlantic Margin in which only one well has been drilled to date. The hydrocarbon system and play types in the licence are analogous to those in West Africa where significant oil and gas discoveries have been made in recent years. A high quality 3,800 square kilometre 3D seismic survey was acquired by a previous operator in 2001.

The work programme includes the re-processing of the seismic data. A decision to drill an exploration well or relinquish the area must be made within 30 months of the Agreement being ratified.

Sidi Moussa – Offshore Morocco

Serica 25%, Island Oil & Gas 50% (operator), ONHYM 25%

The Sidi Moussa Petroleum Agreement covers an area of 7,624 square kilometres and lies in water depths between zero and 1250 metres. The same petroleum system as at Foum Draa is present in the block, which is also highly under-explored, with only one well drilled to date. A high quality 1,460 square kilometre 3D seismic survey was acquired by a previous operator.

The work programme includes the re-processing of the seismic data. A decision to drill an exploration well or relinquish the area must be made within 18 months of the licence being ratified.