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Shell joins ONHYM, Signs New Petroleum Agreement

Shell joins ONHYM, Signs New Petroleum Agreement

Rabat – Morocco’s National Office for Hydrocarbons and Mining (ONHYM), Repsol Exploration Tanfit, and Shell Exploration and Production of Morocco (GMBH) announced the development of a new onshore oil agreement called “Tanfit,” which will span over 9990 square kilometers.

ONHYM announced the new petroleum agreement in a statement issued on Tuesday, February 6.

“Following the results of the reconnaissance works undertaken in the area by Shell, ONHYM, REPSOL and SHELL have decided to sign a petroleum agreement with ONHYM to further explore the hydrocarbon potential of this area.”

According to the press release, Repsol is the project operator. The company is one of the largest publicly-traded oil companies in the world, with international operations in promising regions in terms of energy reserves.

Through partnerships with leading international oil companies, ONHYM aspires to contribute to Morocco’s economic development by developing its natural resources efficiently, collaboratively and creatively.

In September 2015, Shell and ONHYM announced the signature of a reconnaissance contract covering the onshore area named “ISSOUKA,” which is located in North East Morocco.

Founded in 1890, Shell is a major oil and gas company that operates petroleum projects in more than 70 countries.

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