Predator Oil & Gas Gets 8-Year License for Exploration in Morocco
The exclusive license includes an initial 30-months exploration phase covering an area stretching 7,269 square km, to the east of producing gas fields and northwest of Sound Energy PLC’s Tendrara gas project.
The company will operate the license through its subsidiary Predator Gas Ventures with 75 pc equity interest. The Moroccan state-owned Office National des Hydrocarbures et des Mines (ONHYM) will own the remaining 25 pc stake.
During the initial period, the company plans to undertake a work program comprising 250km of reprocessing of existing seismic data and the drilling of one well to a minimum depth of 2,000m.
The objective of the program will be to test a large seismic anomaly said to be indicative of the presence of shallow Tertiary gas, just as the Gharb Basin.