Project Profile

Sedimentary Basin: Essaouira Basin

Area: 4919 Km2 (about 25 % of Essaouira Basin)

Location: 550 km southwest of capital Rabat

Play types: Structural/Stratigraphic

Hydrocarbon Type: Oil, Gas and Condensate

Surrounding Oil & gas Fields:Seven Oil and Gas Fields about 60km to the north with estimated reserves of 500 BCF gas and 50 MMBBLO in Triassic & Jurassic sands and carbonates. Sidi Rhalem oil field produced 9 MMBO of oil from Jurassic Carbonates

Resource: exposure8 TCF Gas and 900 MMBBLO

Petroleum Exploration Limited(PEL) acquired three contiguous Exploration Permits, Haha NORD, CENTRE & SUD in the Kingdom of Morocco in June 2007. The Haha Permits cover, an area of 4919 square km on the Atlantic coast and lie in the Essaouira Basin, located in West Central Morocco; for a validity period of 8 years with a firm commitment of drilling 1 exploratory well.

PEL in join venture partnership signed a New Petroleum Agreement on July 09, 2015 for the same area named as Haha onshore (Haha Nord, Haha Centre and Haha Sud) with a validity period of 8 years (2015-2023).

The exploration history of the block is as follows:

From 1994 to 2004, 880 km 2D seismic were conducted.

In 2007, the PEL company awarded oil contracts.

In 2009, 140 square kilometers of 3d exploration were carried out in HAHA2 block, and seismic data acquisition and data processing and interpretation were completed by PGS company and CGG Veritas company, respectively.

In 2014, Forpetro signed an equity transfer agreement with PEL company for HAHA oil field, in which the former was responsible for the preparatory work and the drilling of three exploration Wells.In the same year, Forpetro drilled the tamanar-1, the first exploratory well, in the HAHA2 block.

In 2015, PEL company renewed the oil block contract for seven years.

In 2016, the tamanar-2, the second exploratory well in the block, was drilled and light crude oil and natural gas were found in the shallow layer.

In 2017, the company officially entered the Forpetro block after a 38% equity deal was approved by Moroccan authorities.

In 2018, BGP began to interpret 3D seismic data for the project.

Operators

National Office for Hydrocarbons and Mining(ONHYM)(Morocco): 25% interest.

Beijing Forpetro Sino-Rig Company Limited(China): Operator with 38% interest.

Petroleum Exploration Limited(Pakistan): 37% interest.

Contractors

SHANGHAI SHENKAI PETROLEUM & CHEMICAL EQUIPMENT CO.,LTD(China): well logging.

BGP Seismic (China):  interpret 3D seismic data