Predator Oil & Gas Submits Bid to Morocco to Build Floating LNG Unit

Rabat – The US-based Predator Oil & Gas company has submitted a bid to construct and operate a floating liquefied natural gas (LNG) unit off the coast of Morocco.

The company submitted its bid to build the Floating Storage Regasification Unit (FSRU) off the Atlantic coast in response to a Moroccan call for tenders. The Moroccoan Department of Energy and Mines Fuel Department published it as “Call for expressions of interest in the Construction and operation of a FSRU” in late April.

Predator Oil & Gas will be “utilising its experience and know-how that it has acquired through the development of its FSRU concept for security and diversity of energy supply for” the Republic of Ireland, read a statement from the company.

Paul Griffiths, the CEO of Predator Oil & Gas Holdings, believes that the expansion into new ventures shows the company’s commitment to “to [developing] new business relationships and opportunities” to help secure financial funding in the future “when required to do so.”

The bid for the FSRU is seen as a long-term project which will not compete with any of Predator’s short or medium term projects in the fields of exploration and extraction. The statement notes that the FSRU has the potential to be a “complementary addition” to the company’s portfolio, especially once the “Moroccan gas market reaches capacity.”

The Jersey-based company recently made new strides last year with its MOU-1 well in the Guercif Basin. But COVID-19 compelled the US company to put a pause to its Guercif project, with the safety measures and a nation-wide travel restrictions significantly affecting the company’s employees.

Despite the obstacles, Predator is now back on schedule to start the drilling of the MOU-1 well. “This is an exciting and exceptionally busy time operationally for the Company dominated by making preparations on the ground in Morocco for the imminent drilling of the MOU-1 well,” said Griffiths at the time.