Project Profile
Value: $150 Million
Location: northeast of Rabat, Rharb Basin, Morocco
Startup Year: 2017
The permit is located northeast of Rabat in the Rharb Basin in Morocco. The Rharb Basin is a foredeep Basin located in the external zone of the Rif Folded belt. The concession agreement includes the right of conversion to a production license of 30 years, plus extensions, in the event of commercial discoveries. Circle Oil has a 75% stake in the concession agreement while the Moroccan state oil company ONHYM holds the remaining 25%.
Operators:
SDX Energy: Operator with 75% interest
ONHYM: 25% interest
Contractors:
Prospectiuni: Seismic data survey
XCD Drilling: Drilling contractor (August, 2017)