Irish company in Morocco gas discovery

Nov 13, 2008 01:00 AM

Irish oil company Circle Oil announced it had discovered a gas deposit during its first drilling expedition in Morocco's Gharb Basin, north-east of the capital Rabat. The company announced that the well had been "drilled, logged and successfully tested."
Circle Oil holds two exploration permits and plans five further drilling operations in Morocco.

The Moroccan Office of Hydrocarbons and Mining (ONHYM) confirmed the discovery.
The Irish drilling expedition revealed a: "modest level of natural gas", according to an ONHYM statement. A full technical evaluation of all the results would be carried out to determine the potential of the reserves, it said.

As part of a 2006 joint venture between Circle Oil and the ONHYM, a "modest-sized reservoir of gas", was discovered that "tested at a sustained rate of 3.32 mm cfpd", said the ONHYM.
Some 30 international oil companies currently have offshore and onshore drilling projects in the North African country which imports almost 100 % of its energy needs.

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