Serica Energy has announced the commencement of drilling operations in Sidi Moussa Licence offshore Morocco
The semi-submersible rig Noble Paul Romano had spud the SM-1 well last week, according to operator Genel Energy. The well, located approximately 60km off the west coast of Morocco, in water depths of 990 metres, is expected to take between 60 and 90 days to complete operations.
Serica Energy holds a five per cent interest in the Sidi Moussa Licence and carries the drilling costs of the well up to a gross cap of US$50mn with an expected limited contribution above this level, teh company said.
Tony Craven Walker, Serica Energy’s CEO, said, “The SM-1 is well placed to test the carbonate reservoir potential in the Sidi Moussa Licence. Serica Energy is largely carried on this frontier exploration well. Morocco is still underexplored and the potential is there for a material oil find.”