ONHYM, Adarco Ink Agreement with NewMed for Gas production South

NewMed Energy has signed an agreement on the exploration license of the Boujdour Atlantique (Southern region) with Adarco Energy Limited and the Office of Hydrocarbons and Mining (ONHYM) to conduct oil and/or natural gas exploration and production activities.
Under the agreement, Adarco’s part will be 37.5% of the interests in the License, with the remaining 25% granted to ONHYM in compliance with Moroccan regulations.
The first phase will span 30 months and include geological and geophysical analysis of the license and seismic data re-processing. The second will run 24 months for the first exploratory drilling, and the last will take 42 months for the appraisal drilling of the exploration.
This agreement came to empower Morocco’s gas production and exploitation potential, which was launched after the discovery of several offshores and onshores in different regions.