Project Profile
Location: Northeast of the Sidi Moussa Offshore Block, offshore Morocco
Reserves: 200 mboe
Area: 3,259 sq km
Water depth: 60 - 320 m
Genel Energy has signed a Petroleum Agreement and Association Contract with the Office National des Hydrocarbures et de Mines (ONHYM) in Morocco, which grants Genel Energy a 75% equity interest and Operatorship of the Mir Left Offshore Block, offshore Morocco. The remaining 25% interest will be held by the ONHYM.
Access to the block is conditional upon receiving approval from the Government of Morocco. Under the terms of the Petroleum Agreement, Genel Energy is obliged to acquire a minimum of 400 sq kms of 3-D seismic data and to drill one exploration well during the 3 year Initial Exploration Period.
The Mir Left Offshore Block comprises an area of 3,259 sq km with water depth ranging from 60 to 320 metres. The hydrocarbon play concepts are related to Jurassic carbonate platforms and the earliest Cretaceous submarine fans. Genel intends to commence the acquisition of 3-D seismic in January 2013, with the aim of drilling the first well in 2014.
Operators:
Genel Energy: Operator with 75% interest
Office National des Hydrocarbures et de Mines (ONHYM): 25% interest