Predator Oil & Gas is the operator of the Guercif Permits I, II, III and IV where it is partnered by ONHYM
Predator Oil & Gas secures environmental approval for drilling in the Guercif permits. (Credit: Pixabay/skeeze)
Predator Oil & Gas has secured environmental approval in Morocco for the drilling of exploration wells in the onshore Guercif permits in the North African country.
The approval was granted by the National Committee of Environment for the Jersey-based company’s environmental impact assessment (EIA) filed by its subsidiary Predator Gas Ventures. The EIA approval, which is valid for five years, has been ratified by the Moroccan Ministry of Energy and Mines and Environment.
Predator Oil & Gas is the operator of the Guercif Permits I, II, III and IV in the Guercif province with a stake of 75%. The company’s partner is the Moroccan state-owned Office National des Hydrocarbures et des Mines (ONHYM), which holds the remaining 25% stake.
Predator Oil & Gas to target the Moulouya-1 prospect
Under the initial drilling campaign, Predator Oil & Gas will drill the Moulouya-1 prospect to a depth of 2,000m after getting regulatory consents and approvals. The company expects to take up to 30 days for the mobilisation of the drilling rig and for executing the drilling operations.
Predator Oil & Gas holds the option to extend the drilling campaign by the drilling of an appraisal well, if needed, or a follow-up exploration well, which will be subject to ONHYM’s approval and receipt of all regulatory consents.
Predator Oil & Gas CEO Paul Griffiths said: “The Company has achieved another important step in progressing its drilling plans in Guercif with the approval of the EIA. Importantly there is scope for further drilling to rapidly follow-up a potentially successful initial campaign.
“Morocco represents an exciting opportunity for phased monetisation of gas combining near-term demand, supported by very attractive in-country gas prices, from large domestic industries desiring to switch to gas if available, and the medium-term ability to develop gas-to-power. New gas resources will carry a premium and may prove attractive to an acquirer.”
Earlier this month, Predator Oil & Gas said that Predator Gas Ventures exercised a previously announced rig option with Star Valley Drilling for the latter’s Rig No. 101. Currently, Rig No. 101 is executing a drilling campaign for SDX Energy in the Rharb Basin west of the Guercif.