Tangiers managing director Dave Wall said that TAO-1 was believed as a highly attractive prospect for Tangiers’ shareholders.

"It is a very large structure located in shallow water within a proven play fairway and adjacent to an existing oil discovery," Wall added.

"All the ingredients required for exploration success are present in the region, giving Tangiers, and its shareholders, a good chance of success at TAO-1."

Galp Energia has 50% interest and operates the Tarfaya Offshore Block while Tangiers has a 25% participating interest.

The block is also shared Morocco’s National Office of Hydrocarbons and Mines (ONHYM), who are carried through the exploration phase, with 25%.

Targeting three stacked objectives, the TAO-1 well is situated within a petroleum system, adjacent to the Cap Juby oil discovery.