PETRONAS SECURES TWO RECONNAISSANCE CONTRACTS IN MOROCCO

PETRONAS, through subsidiary PETRONAS Carigali Overseas Sdn Bhd, yesterday entered into two Reconnaissance Contracts with the Office National de Recherches et d’Explorations Pétrolières (ONAREP), the national oil company of Morocco, for an onshore area in the Missour Basin and the offshore Rabat Sale Haute Mer Area. The contracts will lead to the granting of Reconnaisance Licences by the Morrocan Ministry in charge of Energy.

The contracts were signed in Rabat, the capital city of Morocco, by Tan Sri Dato’ Mohd Hassan Marican, the President and Chief Executive Officer of PETRONAS on behalf of PETRONAS Carigali, while ONAREP was represented by its General Director Madame Amina Benkhadra. The signing ceremony was witnessed by the Prime Ministers of Malaysia and Morocco.

Under the terms of the Contracts, PETRONAS Carigali will carry out field work and associated geological and geophysical works in the Missour and Rabat Sale Haute Mer areas.

The signing of the Reconnaissance Contracts marks another effort by PETRONAS to expand its presence in Morocco. In 2001, the Malaysian company had secured a 42.5 per cent working interest in the Tiznit Block, which is located in water depths ranging from 100 to 1,000 metres offshore Morocco. Energy Africa, a subsidiary of South Africa’s Engen Ltd, which is 80 per cent-owned by PETRONAS, is the operator of the block, holding also a 42.5 per cent interest. Energy Africa also has a 26.67 per cent interest in Cap Draa Haute Mer Permit, another exploration block located offshore Morocco.

Issued by
Media Relations & Information Department

Apr 17, 2002OffshoreMan

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