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Friday, July 29, 2011     FOR YOUR EYES ONLY

Morocco signs U.S. energy firm to survey Atlantic Ocean bloc

CAIRO — Morocco has overseen an Atlantic Ocean search for offshore energy.


Morocco has contracted a U.S. company to explore for energy in an offshore bloc in the Atlantic Ocean. Under the deal, the Dallas-based Kosmos Energy would survey the 1.6 million acre Foum Assaka block off the coast of Morocco.

Kosmos said the bloc was located in the Agadir basin about 45 kilometers from the port city of the same name.

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Kosmos, with interests throughout North Africa, was deemed the operator of Foum and held a 37.5 percent interest.

Morocco has administered both onshore and offshore energy projects. Morocco's state-owned energy company, known by its acronym, Onhym, has been granted a 25 percent interest in Agadir.

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