Morocco to open bidding round Oct. 30

Morocco will open its first petroleum exploration rights bidding round Oct. 30, said state agency Office National de Recherches et d'Exploitations Petrolieres. The round will cover the offshore sector between Rabat and Safi. It will close Apr. 30, 2001.


Morocco will open its first petroleum exploration rights bidding round Oct. 30, said state agency Office National de Recherches et d'Exploitations Petrolieres (Onarep). The round will cover the offshore sector between Rabat and Safi. It will close Apr. 30, 2001.

Earlier this year, Morocco held meetings delineating how the country has significantly reduced its tax burden on foreign investors, said Amina Benkhadra, Onarep's director-general (OGJ Online, June 23, 2000): "Therefore, we look forward to a high level of industry participation in the bidding round."

The round covers eight blocks; three are in less than 200 m of water, and five are in more than 200 m. They range in size from 2,750 sq km to 5,000 sq km.

Technical review sessions will be held in London Oct. 23 and in Houston Oct. 26.

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