فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
British oil company Europa Oil & Gas has announced the discovery of oil reserves estimated at 1 billion tons in the Agadir basin, within the Inezgane permit area. This perimeter, covering 11,220 square kilometers, is located near the coasts of Tarfaya, Sidi Ifni, and Tan-Tan, approximately 200 kilometers from the Canary Islands.
Europa Oil & Gas holds a 75% stake in the permit, with the remaining 25% belonging to the Moroccan state. Located just 200 kilometers from the Canaries and 100 kilometers from the Spanish maritime border, this discovery could boost the company’s prospects after a challenging year.
The potential of this area could enhance energy exploitation prospects in Morocco while generating increased interest in opportunities within this strategic region. Morocco, which heavily relies on energy imports, is actively seeking ways to diversify its energy mix, particularly through renewable energy initiatives and fossil fuel exploration.
Although these fossil fuel reserves are modest, their proximity to European markets, especially Spain, positions Morocco as a potential regional hub. In recent years, Morocco has decided to strengthen partnerships to develop offshore resource exploration. During the first 9 months of 2022, the exploration sector attracted investments totaling 25 million euros (280 million Moroccan dirhams), according to the National Office of Hydrocarbons and Mines (ONHYM).
This discovery comes at a time when Morocco is seeking to enhance its energy security and reduce its dependence on imports. The discovery is expected to contribute to supporting the Moroccan economy and strengthening the country’s position as an important player in the region’s energy sector. It may also open the door to more investments in the Moroccan energy sector, potentially leading to the creation of new job opportunities and stimulating economic growth in the region.
