Gulf Oil and Gas accountACCOUNT

Morocco to Negotiate for a New Foum Ognit Block

Source: wsrw 6/1/2013, Location: Africa

Morocco claims to be in negotiation with an oil company for a new block offshore Western Sahara. The new block, labelled Foum Ognit Offshore is located just south west of the capital city of Western Sahara, El Aaiun.

By mid January 2013, the block was labelled as "open acreage" on the maps of Morocco's state oil company ONHYM. However, as of beginning of April 2013, the block had changed status on ONHYM's maps, and is currently labelled "under negotiation". The block is 8013 sq.kilometers large.

Further oil exploration Western Sahara is according to the UN in violation of international law as long as the Saharawis don't benefit and if they do not consent. Several companies have pulled out from the territory after being made aware of the controversies involved.

Morocco occupies a part of the territory, and has no rights to negotate such deals for the territory which is not theirs.

For more information about related Opportunities and Key Players visit North Africa Projects

Acquisitions and Divestitures News in Morocco >>

Cameroon >>  3/30/2020 - Tower Resources plc, the AIM-listed oil and gas company with its focus on Africa, is pleased to announce updates in respect of its Thali Production Sh...
Canada >>  3/30/2020 - As announced on 18 December 2019, the acquisition of the Wizard Lake assets would proceed in stages. Stage 1 was completed on 23 December 2019 with SB...

United States >>  3/30/2020 - Given current market conditions, Shell announces it will not proceed with an equity interest in the proposed Lake Charles LNG project. Accordingly, En...
Australia >>  3/26/2020 - 3D Oil has announced that ConocoPhillips Australia and TDO’s wholly owned subsidiary, 3D Oil T49P have executed a Joint Operating Agreement ('JOA') in...

Australia >>  3/26/2020 - Real Energy, an Australian east coast focused gas company with interests in the Cooper and Surat Basins has announced that the Queensland Government h...
Georgia >>  3/26/2020 - Block Energy Plc has entered into a sale and purchase agreement ("SPA") with Schlumberger B.V. to acquire its subsidiary Schlumberger Rustaveli Compan...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Morocco Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Morocco >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.