In a significant development for Morocco's hydrocarbon exploration sector, the National Office of Hydrocarbons and Mines (ONHYM) and ESSO EXPLORATION INTERNATIONAL LIMITED, a subsidiary of ExxonMobil Corporation, have signed two reconnaissance contracts. The agreements were finalized on July 2, 2024, at the ONHYM headquarters, with the contracts covering the Safi-Essaouira Offshore and Agadir-Ifni Offshore areas.

The signing ceremony was attended by Mrs. Amina Benkhadra, Director General of ONHYM, and Mr. Charles Tautfest, President of ESSO EXPLORATION INTERNATIONAL LIMITED. These new contracts signify a notable re-entry into the Moroccan market for ExxonMobil, following the merger of Exxon and Mobil in 1999.

ExxonMobil Corporation, ESSO's parent company, is renowned as one of the world's largest publicly traded energy and petrochemical companies. The corporation holds significant interests in hydrocarbon exploration and production projects across 20 countries, in addition to its extensive activities in petrochemicals, refining, and the distribution of petroleum products globally.

The reconnaissance contracts for the Safi-Essaouira Offshore and Agadir-Ifni Offshore areas encompass regions off the coasts of Safi, Essaouira, Agadir, and Sidi Ifni. This initiative aligns with ONHYM's strategic efforts to enhance the hydrocarbon potential of Morocco's national subsoil.

Currently, ONHYM collaborates with 14 companies under 19 petroleum agreements and one reconnaissance contract, underscoring its commitment to fostering partnerships and promoting exploration activities within the region.

The new agreements with ESSO EXPLORATION INTERNATIONAL LIMITED are expected to bolster Morocco's position in the global hydrocarbon sector, attracting further investment and interest from leading international energy companies.

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