Drill

Anglo-Turkish exploration and production firm Genel Energy has started drilling operations on the SM-1 well in the Sidi Moussa block, offshore Morocco.

Drilling work on the well, which is located 60km off the west coast of Morocco in approximately 990m of water, is expected to take two to three months.

The Noble Paul Romano semi-submersible rig will be used to drill the well, which is targeting prospective resources of 300mmbbls at a 20% probability of success.

Genel Energy operates the block with a 60% interest, while San Leon and Serica Energy hold 8.5% and 5% stakes, respectively.

Longreach Oil & Gas has a 1.5% stake and the Moroccan National Bureau of Petroleum and Mines, ONYHM, owns a 25% interest.

San Leon and Serica are covering the drilling costs of the well, up to a gross cap of $50m.

"The SM-1 is well placed to test the carbonate reservoir potential in the Sidi Moussa licence."

San Leon chairman Oisin Fanning said: "Morocco remains one of the last under-explored regions of North Africa and the spudding of the SM-1 exploration well is another step towards our understanding of this basin’s hydrocarbon potential."

Serica Energy chairman and CEO Tony Craven Walke said: "The SM-1 is well placed to test the carbonate reservoir potential in the Sidi Moussa licence.

"Serica is largely carried on this frontier exploration well. Morocco is still under-explored and the potential is there for a material oil find."

Genel Energy’s acreage position offshore Morocco consists of three licences, Juby Maritime, Sidi Moussa and Mir Left, spanning approximately 16,500km².


Image: The SM-1 well is located 60km off the west coast of Morocco in approximately 990m of water. Photo: courtesy of suwatpo / FreeDigitalPhotos.net.

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