Major Advance For Moroccan Upstream
Chevron has become the biggest firm yet – and the first major – to have a stake in the Moroccan upstream.
The US firm is to take a 75% operators’ stake in three virgin deepwater offshore blocks. Moroccan state firm ONHYM will retain its customary 25%.
The Cap Cantin Deep and the Cap Walidia Deep blocks lie offshore from the town of Safi, halfway between Agadir and Casablanca. The...