Rabat – For international investors, Morocco is a center of a number of unused possibilities in the petrol and renewable energy industry.
This is the conclusion, from the recent remarks of the CEO of Sound Energy Graham Lyon, which is growing website Attaqa.
“Gas reserves are technically classified according to one of many international standards and the undiscovered potential (not reserves” in the east of Morocco, which over 20 trillion cubic feet gas on the spot, “Lyon told Attaqa.
Schallen energy is part of the energy groups that are highly active in Morocco and shares operations in the context of shops and contracts that were signed by the energy authorities in the Morocco.
These groups usually have over 70% of the shares of their Moroccan projects, while more than 20% are under the national office for hydrocarbons and mines in Morocco for every project or exploitation contract.
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These standard percentages could change if the two parties decide depending on certain contexts to sign an agreement on a different or slightly modified basis.
One of the projects in the Sound Energy portfolio is the Rendrara production concession.
As part of the agreement that has been effective since September 2018 gas in Morocco.
According to the company’s website, “Sound Energy in Morocco has a variety of exploration systems, namely: Greater Rankara, Anoual and Sidi Mokhtar. Another exploration could open up additional resources on these websites, which already have several existing discoveries. ”
During his interview with Attaqa, Lyon emphasized Sound Energy’s interest in continuing his activities and investments in the North African kingdom, where the company has previously invested over 168 million dollars.
Solid energy will continue to invest in Morocco, he emphasized and insisted on the fact that the North African country will continue to be the main focus of the company.
Lyon also said that he hoped that the company will receive approval for the extension of its licenses for exploration and exploitation of the tendril and anoual locations.
I want to stay in Morocco
He also denied that the company is looking forward to leaving the Moroccan market and found that in the North African kingdom “is very happy to be” very happy “where the company receives support from Moroccan shareholders.
While he commented on Lyon’s comments, Attaqa found that Sound Energy was concluded in December 2024 in which it was ready to sell part of his Moroccan gas Assets for Moroccan mining companies Management.
In the meantime, Lyon emphasized throughout the interview that Morocco fulfills the local gas demand from Sound Energy and emphasizes the relieved guidelines of the country and attracts similar companies for the research of opportunities.
“International investors would also like to be happy on site, as Morocco buys gas at competitive prices and negates the need to find more profitable markets abroad,” he said.
As soon as the company fulfills local demand, the Maghreb-European gas pipeline could serve as an export route.
While the discovery of large amounts of gas has not been proven, the potential remains considerably high.
“I cannot say that the potential is limited until all pools have been completely researched,” said Lyon.
Morocco has set high standards for its gas market, whereby the country is more on renewable energies to supply its market with electricity and other necessities.
It was only last month that Lyon, in particular, stated that Morocco had joined the market for liquefied natural gas production for the first time in its history by the end of 2025.
Production attempts will begin next summer, whereby the commercial production will start 10 million cubic feet daily until late in the fall.
In the meantime, the production capacity is expected to increase to 40 million cubic foot a day if additional fields are developed.
