Oil: ConocoPhillips back in Morocco

The American oil company ConocoPhillips, through its subsidiary Conocophillips Morocco Ventures (CMV), has just been awarded an offshore exploration perimeter in the Mesorif region (north of the country) by the Moroccan Office of Hydrocarbons and Mines (ONHYM), an area that has already been the subject of several hydrocarbon discoveries. The information was made public on 12 May by ONHYM, which welcomed, in its press release, that « this signature marks a new entry of ConocoPhillips in the Cherifian Kingdom since the merger of Conoco and Phillips in 2001 ». The Cherifian public institution also specified that the exploration permit will cover a period of two years, with CMV having to carry out geological and geophysical studies during the first year and the acquisition of 2D data during the second year.