Onanrep Presentation - Morocco Upstream Oil Industry

Announcement of discovery in Morocco

Announcement of a bidding round for the Rabat-Safi
Atlantic Offshore Segment IN MOROCCO

- ONAREP Presentation -
Morocco Upstream Oil Industry

Created in 1981, the Office National de Recherches et d'Exploitations Pétrolières "ONAREP", is a public establishment under the administrative supervision of the Ministry of Energy and Mines, with a mandate of coordinating and being responsible for managing all activities related to the exploration and production of hydrocarbon deposits in Morocco. Among ONAREP responsibilities:

Keep, catalogue and make at companies disposal, free of charges, all available data.

Negotiate the terms of the reconnaissance contract and petroleum agreement.

Apply jointly with the partners for reconnaissance license, exploration permit and exploitation concession.

Supervise the execution of the reconnaissance contracts and petroleum agreement terms.

Morocco has a steady policy towards international oil companies. In addition to a prospective and promising geology, Morocco offers an excellent working climate and very encouraging contractual terms. These represent our background, present and future strategy.

The Moroccan hydrocarbon legislation is elaborated to create a favorable and incentive exploration framework, it's main characteristics are:

Simple and flexible procedures, easy and rapid granting of Reconnaissance, Exploration, and Exploitation licenses.

Advantageous taxation terms giving the priority to the investors to recover their investments, quick pay and high rate of return.