While Morocco currently has no oil production, it has enjoyed something of an exploration boom over the past two years. Several majors and large independents – BP, Chevron, Total, Repsol, Cairn, Genel – are among those to have snapped up acreage.
But, amid delays securing rigs, and, for the smaller firms, financing, only five wells have been drilled so far, with none striking significant quantities of oil and gas. While some companies say they will press on with exploration efforts, others have pulled the plug, or plan to do so. (CONTINUED - 1141 WORDS)