US Independent Buys Morocco Offshore Stake
US company Plains Exploration and Production has become the latest independent to farm in to Morocco, following at least 10 similar deals during 2012.
Plains on 3 January agreed to pay Australian independent Pura Vida $15mn for 52% of the Magazan deepwater permit offshore southern Morocco and to take over as operator. This reduces the Australian company’s share to 23%; Moroccan state firm ONHYM retains 25%....