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Hassi Berkane

The Hassi Berkane Block is located onshore in the northeast part of Morocco and encompasses 5,116 km2 with extensive 2-D seismic data. Key attributes of the Hassi Berkane Block are:

  • Similar reservoir and source rocks to the Tselfat area in central Morocco, which has large proven oil and gas reserves.
  • The seismic data reveals several alluring structural anomalies with a similar profile to the numerous oil & gas fields in the Tselfat area.
  • At least one of the anomalies is extremely large and appears to be structurally closed.
  • There is a known oil seep at the periphery of the Hassi Berkane Basin.
  • Drilling depth to target horizons is less than 3,000 meters.
  • The property is close to the Maghreb Europe Gas Pipeline, which transports gas from the super giant Maghreb gas field in adjacent Algeria. The pipeline has ample excess capacity.

About Morocco

political-stabilityPolitical Stability

Only North African political regime unaffected by Arab Spring Constitutional Monarchy
Democratically elected government
Low political & security risk forecase (Source: Control Risks)

Rapid Economic Growth

4.4% CAGR GDP growth (2005-2010)
Foreign investment of US$45 billion in 2011
4 times higher than in 2001
Fitch rating BBB-, Stable Outlook

  • Source: CIA, Reuters, Fitch, Control Risk

Energy Fundamentals

Strong Domestic Market

Energy bill of US$10.7 billion in 2011
One of Africa's largest energy consumers
Energy demand +54% over last 10 years
33 million population
Key energy users: Residential, Industry, Phosphate Mines, Agriculture

Undersupplied

Africa's 2nd largest importer
One of Africa's largest energy consumer
Morocco imports 99% of oil, 91% of gas
No stranded reserves


Hassi Berkane Field

1.28 Million Acres
Similar reservoir and source rocks to the Tselfat Area in central Morocco, which has large proven oil and gas reserves.
Close to the 48" Maghreb Europe Gas Pipeline in adjacent field in Algeria
Several alluring structural anomalies
If hydrocarbon-charged, one structure could have up to 162 MM BOE
Drilling depth to target horizons is less than 3,000 M

 

hassi-berkane-geological-map

time-structural-map-seismic-line

maghreb-pipeline

Maghreb Pipeline

facilities-projects-morocco

Facilities and Projects in Morocco