Woodside Petroleum to explore oil offshore Morocco

ORA-offshoreWoodside increased its net profit to a record US$1.21bn in the 2014 financial year. (Image source: Woodside)Australia-based petroleum company Woodside Petroleum has signed a licence deal with Morocco’s National Oil Company to survey an oil block located offshore the North African country

Woodside Petroleum said that the Rabat Ultra Deep Offshore Block spreads over 36,737 sq km with depths ranging from 1,700 metres to 4,400 metres.

According to the deal, the licence is valid for one year and will expire in November 2015. The company plans to undertake a 2D seismic survey and other studies during this period.

However, Woodside Petroleum said that it needs government approval before any work can begin at the oil block.

Meanwhile, National Oil Company revealed that Morocco is hoping to become an energy producer and plans to drill about 30 oil and gas wells in the country.

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