Marruecos invierte 25 millones de euros en exploración petrolera en 9 meses

Morocco's National Hydrocarbons Office (ONHYM) and its partners invested 275 million dirham (€25 million) in oil exploration in the Maghreb country in the first nine months of 2022.
 
In a report on its activities so far this year accessed by EFE, the Moroccan public entity says it spent 16.84 million dirham (€1.5 million) on exploration.
 
It adds that exploration activities are carried out in partnership with 11 companies, over a total area of 207,423 square kilometres offshore and onshore, and are divided between 58 licences, two reconnaissance authorisations and ten exploitation concessions.
 
Morocco, whose economy suffers from the instability of the international energy market, is seeking alternatives to fuel imports and the development of renewable energies in order to consolidate its sovereignty in this area.
 
The ONHYM paper notes that the value of Morocco's imports of energy products has doubled this year, from Dh45.16 billion (€4.138 billion) in the first nine months of 2021 to Dh103.058 billion (€9.442 billion) in the same period of 2022.
 
According to the letter, this increase is due to the doubling of prices on international markets and an 11.5% increase in imports.
 
Last Sunday, King Mohammed VI of Morocco stressed his country's commitment to push forward "as soon as possible" the gas pipeline project with Nigeria, which would run 7,000 kilometres through the waters of thirteen West African countries and then reach Europe.
 
In an address to the nation on the occasion of the 47th anniversary of the Green March, the monarch described the project as "strategic" for the energy security of West African countries, which have a population of 440 million.
 
Last October, the Russian government approved a project for cooperation in the peaceful use of nuclear energy with Morocco, according to a decision by Russian Prime Minister Mikhail Mishustin, published on the official legal information portal.
 
To diversify its resources, Morocco is also turning to green energy and last February the government said it will revise upwards its ambitious renewable energy plan to exceed the target of 52% of its energy production coming from clean energy by 2030.