North African Kingdom of Morocco has a modest upstream oil industry and most sedimentary basins are still largest unexplored.
Currently there are two onshore producing basis: the Essaouira Basin on the west coast producing natural gas and oil (mainly condensate) and the Rharb Basin in the north of the country producing natural gas.
Morocco is Africa’s second largest importer of hydrocarbons and is one of Africa’s largest energy consumers. It currently imports 99% of oil and 91% of gas.
It is one of the more stable political environments within Africa with a Constitutional Monarchy and Democratically elected government. There is low political and security risk.
Economic growth is also seen within the country with an average GDP growth rate of approximately 4.8% during the past give years.