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Join on Telegram The Moroccan government has approved the transformation of the National Office of Hydrocarbons and Mines (ONHYM) into a joint-stock company.
This marks the first concrete step in a broader public sector reform agenda.
Draft law No. 56.24, adopted by the Government Council today, sets ONHYM on a new path aimed at strengthening strategic efficiency, improving institutional performance, and optimizing national resources.
This decision falls in line with Morocco’s broader vision which strives to achieve deep reform and address long-standing structural issues in public institutions.
Leila Benali, Minister of Energy Transition described the transformation as a strategic shift, placing ONHYM at the center of Morocco’s economic and institutional renewal.
According to the minister, this reform did not emerge in isolation. It was shaped through collaboration among the Head of Government’s Office, ONHYM, her ministry, and the National Agency for the Strategic Management of State Holdings and Monitoring of Public Enterprises’ Performance (ANGSPE).
The law draws directly from Framework Law No. 50.21 and Law No. 82.20, and seeks to introduce a new governance model for ONHYM. It also opens the door to stronger performance, diversified funding sources, and more effective use of national assets.
Benali further noted that this change would boost economic and territorial value and allow the agency to contribute more significantly to Morocco’s development goals.
Created in 2003 through the merger of two specialized institutions, ONHYM has built a solid base of geoscientific data and technical expertise. It has played a key role in identifying numerous mineral deposits, and now stands to gain more autonomy and financial agility under the new structure.
The minister pointed to recent reforms within the energy and mining sectors, including updates to legal frameworks, the withdrawal of inactive permits, increased investment in natural gas, and a push toward digitization and better public service. She said that transforming ONHYM is a natural continuation of these efforts.
Under the new model, ONHYM will be allowed to form subsidiaries and take part in the capital of other companies. The state will retain majority voting rights, and employee rights will be preserved. ONHYM will also continue, on a transitional basis, to operate in gas transport and storage.
Benali described this shift as a crucial mechanism for repositioning ONHYM within the national economy and linking it more effectively to global value chains.
She said the reform supports Morocco’s pursuit of energy sovereignty and industrial transformation and aligns with a larger national strategy to improve the performance of over 50 public institutions.
This new reform represents a new phase in public investment, national development, and the responsible management of Morocco’s strategic assets.
As the North African country advances toward energy sovereignty and deeper integration into global value chains, this reform sets a precedent for future public sector transformations.
