Our operations in Morocco
Three offshore blocks:
- Juby Maritime Interest: 37.5% (Cairn Energy 37.5%, ONHYM 25%)
- Sidi Moussa Interest: 60% (Serica, San Leon & Longreach 15%, ONHYM 25%)
- Mir Left Interest: 75% (ONHYM 25%)
- Gross acreage 16,489 square km
Through a combination of farm-in and corporate acquisitions, Genel is establishing a material position in Morocco. We are specifically focusing on the proven hydrocarbon system in offshore Morocco associated with Jurassic carbonates. Our positions are underexplored and offer exciting exploration prospects in a frontier area.
Proven oils (3 types) in the Cap Juby discovery in the Juby Maritime block match the Panuke Field in Canada in terms of source rock derivation. This indicates that there is the potential for a wide spread petroleum system during the early opening of the North Atlantic, associated specifically with the carbonate fairway.
Cap Juby has the potential to deliver 250 mmbls. Preparations continue to drill the first well on the Cap Juby discovery in the fourth quarter of 2013.
In addition to the Cap Juby discovery, there are several exploration leads and prospects, with 3D seismic to be shot.
At the Sidi Moussa block, we are targeting over 850 mmboe of gross resources. Extensive 2D and 3D seismic has been completed and reprocessed, and a number of leads and prospects identified with significant resource potential across multiple play types. We are targeting the first exploration well in the first half of 2014.
Mir Left lies adjacent to, and to the north-east of the Sidi Moussa block. The hydrocarbon play concepts are related to Jurassic carbonate platforms and the earliest Cretaceous submarine. We are currently acquiring 3D seismic with the aim of drilling the first well in 2014.
Positioned for growth
Annual Report & Accounts 2012