The National Office of Hydrocarbons and Mines (ONHYM) and American gasoline and lubricants giant ExxonMobil formerly known as ESSO signed two reconnaissance contracts on Tuesday in Rabat, as part of the strategy to promote hydrocarbon potential in the Safi-Essaouira offshore and Agadir-Ifni offshore zones, located off Safi, Essaouira, Agadir, and Sidi Ifni.
ONHYM’s General Director Amina Benkhadra and ExxonMobil’s President Charles David Tautfest signed the contracts, ONHYM said in a press release.
This signing marks the return of ExxonMobil Corporation to Morocco, the parent company of ESSO and one of the world’s largest publicly traded energy and petrochemical companies, following the merger of Exxon and Mobil in 1999.
ONHYM stated it has an ongoing collaboration with 14 companies under 19 petroleum agreements and one reconnaissance contract.
ExxonMobil Corporation holds interests in hydrocarbon exploration and production projects in 20 countries, in addition to its activities in petrochemicals, refining, and petroleum product distribution worldwide.