Middle East Economic Survey


No 32



Tethys Oil To Leave Morocco After Poor Drilling Results

Swedens Tethys Oil announced on 4 August that it would quit the Bouanane licence in Morocco, after disappointing drilling results on the block. Tethys had already reduced its interest in the permit to 12.5% after reaching a farm out agreement with Aberdeen-based Dana Petroleum in 2006. Tethys said the Tafejjart-1 well (TAJ-1), which was drilled to a depth of 3,274ms, showed gas...