Morocco offers interesting opportunities for StatoilHydro, and deepwater exploration acreage off the country’s coast is regarded as little explored.
We have been awarded four exploration licences in an area of the NW Safi basin where the water depth varies from 300 to 3,000 metres.
The results of a seismic survey conducted in 2006 are now being interpreted, and a decision on possible drilling will be taken during the first half of 2008.
We benefit yet again in Morocco from our offshore expertise, particularly relating to the Canadian continental shelf off Nova Scotia. This has many features in common with Moroccan acreage.
We are operator for the exploration licences, with a 48.75% interest. Our partners are Britain’s Dana Petroleum and Moroccan national oil company ONHYM.
