Morocco: Predator Oil & Gas Oil Drilling in Guercif ‘Imminent’

Rabat – After a number of false starts, Predator Oil & Gas Holdings has announced “the imminent drilling” of the company’s well in the Guercif Basin, northeastern Morocco. The US-based company “remains on schedule to commence drilling [of the MOU-1 well] during June 2021,” reads an official press release from May 6. The action will […] The post Morocco: Predator Oil & Gas Oil Drilling in Guercif ‘Imminent’ appeared first on Morocco World News.

Morocco: Predator Oil & Gas Oil Drilling in Guercif ‘Imminent’

Rabat – After a number of false starts, Predator Oil & Gas Holdings has announced “the imminent drilling” of the company’s well in the Guercif Basin, northeastern Morocco.

The US-based company “remains on schedule to commence drilling [of the MOU-1 well] during June 2021,” reads an official press release from May 6. The action will commence in the Guercif Petroleum Agreement area which covers the company’s Permits I, II, III, and IV.

“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 Paul Griffiths, CEO of Predator Oil & Gas Holdings.

“Completion of the well will establish Predator as an operator in Morocco and opens up the potential … for further drilling on a licence covering 7,269 [square kilometers]” the CEO explained, adding that there are also “a range of development options for gas in Morocco and results from MOU-1 will potentially determine which of these options can be progressed in the near-term.”

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The well is approximately 250 kilometers east of the Rharb Basin, where SDX Energy has undertaken shallow commercial gas production for several years now.

The company is currently working on releasing its financial statement covering December 31, 2020, to the start of the Guercif drilling operations, As part of the statement, Predator Oil & Gas will also include an updated business development plan for Morocco, which “will focus on building on the successful planning and imminent execution of the MOU-1 drilling  programme as a means of leverage to assess additional value-accretive opportunities that we have identified.”

Last year the Jersey-based company had to pause its drilling operations in eastern Morocco due to COVID-19 and the government’s imposed travel restrictions, which affected the company’s employees. At the time, the company said that the infrastructure is ready and on standby to restart drilling operations in the region.

The post Morocco: Predator Oil & Gas Oil Drilling in Guercif ‘Imminent’ appeared first on Morocco World News.