VOL. XLIII

No. 19

8-May-2000

MOROCCO

Morocco Signs Exploration Agreement With US Firm

Moroccos state-owned oil and gas concern ONAREP signed an agreement with Lone Star Energy of the US on 26 April for exploration in three onshore zones. The agreement covers an area of 6,000 sq km in the Tazine region 70km from Errachidia. Under the terms of the agreement, Lone Star will drill up to five wells over an eight-year period and is committed to spend a minimum of MD50mn ($4.7mn). This is the fourth...