Shell and Spain’s Repsol, two of just four decent-sized oil firms in Morocco, are quitting the country’s upstream. Both are moving away from the upstream to a broader energy strategy.
Repsol’s recently-released 2020 report lists Iraq and Morocco as countries it is “in the process of exiting pending official ratification.” Repsol has since 2014 held 75% of Ghrab Offshore Sud, a deepwater ‘Atlantic margin’ block some 100km northwest of Rabat (state firm ONHYM has 25%) and further offshore from the firm’s 2009 'sub-commercial' Anchois discovery. The sole activity here in recent years has been interpretation of seismic shot in 2016. (CONTINUED - 595 WORDS)