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Irish firm Circle Oil accounts for all of Morocco’s modest gas output – 6.2mn cfd for 1H15 – with its Sebou permit northeast of Rabat.
It hopes to boost this following this week’s results from the successful KSR-A exploration well. This flowed at a maximum of 8mn cfd, though previous wells have ultimately produced at significantly lower levels than tests indicated. Nine wells currently produce. The rig has now moved to the Caid El Gaddari-13 well site, the last in its current campaign. Circle has 75% of the Sebou permit; state firm ONHYM has 25%.
Circle benefits from an $8.66/’000 ft³ price for its Moroccan gas output, above most international gas prices given recent falls in line with oil. The well will be connected to the company’s 55km pipeline that runs from Sebou to nearby industrial customers. The pipeline has “additional capacity for new gas supply” Circle says. “Our business runs by drilling and finding more gas, connecting to our pipeline – in which we put big investment – and sell at the other end,” Circle Oil’s CEO Mitch Flegg tells MEES.
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