PetroMaroc Seeks Partner for Sidi Moktar

PetroMaroc Corporation announced it seeks industry partner to develop the Sidi Moktar Exploration Licence in Morocco. 

“We will be pursuing all available options to maximize shareholder value from our promising Kechoula structure,” Tom Feuchtwanger, PetroMaroc’s President and CEO, said on Friday. 

According to the company, the independent evaluation by GLJ Petroleum Consultants confirmed PetroMaroc’s geological and geophysical model for the Lower Liassic reservoir of the Kechoula structure. 

‘The report also confirmed (81 percent probability) that the Lower Liassic clastic reservoir is filled to spill point, and reported a prospective resource of gross lease unrisked undiscovered petroleum initially-in-place of 394 billion cubic feet (mean estimate).’

Earlier this year, Ireland-based San Leon Energy acquired Petromaroc’s 1.5% net working interest in the Sidi Moussa licence, offshore Morocco.