The Moroccan Office of Hydrocarbons and Mining (ONHYM) has announced that one of the permits in the offshore Tarfaya Block has encountered a column of heavy oil
Cairn Energy and Genel Energy started drilling Juby Maritime 1 well, located 38km off the coast of the southern town of Tarfaya, in January this year and have reached the final depth of 3,835 metres.
The Juby Maritime permit, covering an area of 4,481 sq km, was awarded to the two companies following 3D seismic surveys.
The companies, however, said that the target has not shown a reservoir of good quality, Reuters reported.
Oil companies are stepping up exploration in Morocco, attracted by its stability relative to other parts of North Africa and encouraged by advances in geology and technology that indicate its potential for reserves offshore, Reuters added.
