Circle Oil, the North African focused independent, has confirmed gas has been found at its Ksiri West-A (KSR-A) exploration well onshore Morocco.
Sound Oil, the Mediterranean focused upstream gas company, made a first-half pretax loss of £3.89million compared with a 2014 loss of £2.05million.
Chariot Oil & Gas, the Atlantic margins focused oil and gas exploration company, has said it has sufficient cash to pursue additional opportunities, including prospects in Mauritania.
Sound oil has signed a two-month exclusivity agreement with Maghreb Petroleum Exploration to buy a subsidiary of the Moroccan Sidi Moktar licences. The Sidi Moktar licence covers 3000km2 onshore in the Essaouira basin which contains multiple gas discoveries. Sound said it is carrying out due diligence and it will issue further updates in due course.
San Leon Energy has spudded the El Aaiun-4 well onshore in Morocco.
Morocco's government said on Wednesday it will not bow to pressure from the country's oil refinery operator Societe Anonyme Marocaine de l'Industrie du Raffinage (Samir) and will do everything possible to recover unpaid taxes and protect the refinery's workers. Morocco's tax administration seized the company's bank accounts last week in pursuit of a 13 billion dirham ($1.3 billion) tax claim. Samir, which is controlled by Saudi Corral Petroleum Holdings, said earlier this month it was halting production at some units of the 200,000 barrel-per-day (bpd) Mohammedia refinery.
Morocco's Societe Anonyme Marocaine de l'Industrie du Raffinage (SAMIR) will halt production at its 200,000 barrel per day (bpd) Mohammedia refinery due to financial difficulties, the company said in a statement. Sources at the refinery said it was already shut down, but would restart once it received delivery of two cargoes of 2 million barrels of crude oil, scheduled to arrive between Aug. 15 and 18. It said SAMIR will continue to supply oil products until its stocks run out.
North African exploration company Circle Oil has plugged and abandoned its NFA-1 exploration well in Morocco.
Circle Oil has suspended a well after an interpretation of wireline logs revealed its reservoir quality was not as high as previous estimates. The North African focused oil and gas exploration company drilled ANS-2 on the Lalla Mimouna permit, onshore Morocco, following success on the LAM-1 well. The second well was targeting the Miocene sands, and while the well encountered gas shows whilst drilling at total depth the company has chosen to get further analysis of data before pressing ahead.
Woodside Petroleum has dropped its option to take operatorship and fund well costs in one of its shared Moroccan assets. The Australian company’s partner, Chariot Oil & Gas, said Woodside had decided against the move which would have given it an additional 25% stake in return. It means Chariot will remain the operator with a 50% interest, while Woodside will retain its current 25% stake and ONHYM will have a 25% carried interest.
Woodside Petroleum has signed a reconnaissance licence with the Office National des Hydrocarbures et des mines to explore a block offshore Morocco. The block, known as the Rabat Ultra Deep Offshore area, comprises a total of 36,737km2 with depths ranging from 1700m to 4400m.
Genel Energy has hit oil during drilling at a well on the Sidi Moussa Block off the coast of Morocco. The discovery was made by the oil and gas explorer along with its partners San Leon and Serica Energy.