ONHYMOffice National des Hydrocarbures et des Mines (Morocco)
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ONHYM has also made discoveries in the Gharb region, which have combined reserves of about 10m cubic metres and possibly much more.
Following the agreement, which is subject to the authorization of the Moroccan authorities, Eni will be the Operator of the license with a 75% stake, while ONHYM will retain a 25% stake.
Actualites Eecrit par La Redaction ONHYM Une enveloppe financiere de plus de 5 milliards de dirhams (MMDH) sera allouee par les partenaires prives, au titre de l'exercice 2014, pour l'investissement dans le secteur des hydrocarbures et des mines, au moment oE le Royaume connaitra, au titre de la meme annee, le forage de pres de 27 puits dans les differents bassins sedimentaires onshore et offshore, a annonce, mardi a Rabat, la directrice de l'Office national des hydrocarbures et des mines (ONHYM), Amina Benkhadra.
Just two months later ONHYM found gas with the ONZ4 well - and it is this well, for which Circle and ONHYM have concluded hand-over terms, that is about to deliver the firm's maiden production.
Spanish oil firm Repsol YPF leads the consortium with a 36 per cent stake, followed by Spanish utility Gas Natural with 24 per cent and Morocco's ONHYM with 25 per cent.
I am delighted to once again thank our technical and operational staff for their professionalism in achieving such a tremendous strike rate, our service companies for their contribution and also our partner ONHYM for their valued and continuing support.
Gulfsands can now confirm that it has received official notification from ONHYM that the $1.
ONHYM (Morocco's National Office of Hydrocarbons and Mines) holds the remaining 25 percent.
ONHYM has assumed control of the existing bank guarantee (San Leons share being $1,400,000 an amount listed in the Companys accounts as restricted cash), and has requested a penalty of the same amount again to be paid.
The remaining 25 percent interest is held by ONHYM (Morocco's National Office of Hydrocarbons and Mines), which is carried through the exploration phase.
Circle Oil carried out an ambition prospecting program that includes geological and geophysical studies, ONHYM said on Wednesday in a statement, adding that for the same time in Gharb basin, the company used in 2007 the three-dimensional seismic survey to search for natural gas.