Gibraltar ratio has signed an oil and gas exploration research agreement with the Moroccan National Office for Hydrocarbons and Mines (ONHYM), giving it the exclusive right to study and prospect the Atlantic Dakhla block, located in Morocco along the Atlantic coast and stretching from the coast to the seafront at water depths of around 3,000 meters.
Make no mistake, Ratio Gibraltar is a storefront of the Israeli parent company Ratio Petroleum Partnership which, moreover, announced the news on September 24 before it was cross-checked on October 12, 2021 by its godson. The agreement which is already considered by some to be doubly political is a research agreement between Ratio Gibraltar signed with the Moroccan National Office of Mines and Hydrocarbons (ONHYM), giving it the exclusive right to study and prospect the Atlantic Dakhla block, located in Morocco along the Atlantic coast. The total area of the block is over 129,000 square kilometers and during the study agreement Ratio Gibraltar will own all rights (100%). The agreement which is already considered by some to be doubly political is a research agreement between Ratio Gibraltar signed with the Moroccan National Office of Mines and Hydrocarbons (ONHYM), which gives it the exclusive right to study and prospect the Atlantic Dakhla block, located in Morocco along its Atlantic coast. During the agreement to study the total area, Ratio Gibraltar will own all rights (100%).
The final details on the block, the research agreement, its terms, the work plan in the block and the possibility of concluding a research and production agreement in accordance with the results of the study and research, however, remain to be refined. in the next few days he whispers. The agreement will include the possibility of subsequently concluding a research and production agreement in accordance with the results of the study carried out by the company. It also provides for the conditions under which Ratio Gibraltar or Ratio Petroleum Partnership could obtain licenses for the exploitation and production of petroleum. In accordance with Moroccan law, the State would receive a royalty of 7% if the oil is discovered more than 200m under water with a production of more than 500,000 tonnes, and for natural gas, 3.5% for a production of more than 500,000 cubic meters.
Morocco has a number of sedimetric basins likely to be active on its Atlantic coast. The geological provinces1 are divided by a vast saline basin which lies mainly in the north of the Canary Islands. While the northern fringes of the Moroccan coast are tectonic, the continental fringes of the southern Canary Islands shelf are more tectonic and even analogous to the discovery and production areas of the Atlantic continent in the southernmost regions of Africa. Western and Eastern South and North America.
The Dakhla Atlantic block located in the southern part of Morocco, along the Atlantic coast borders the north in the coastal area of Dakhla on the border with Mauritania. The block covers an area starting from the shore, including the shallow water area, and extends to a water depth of approximately 3,000 meters. This equates to more than 270 maritime research permits in Israel, Ratio Petroleum Partnership tells us. Oil and gas operations in Morocco take place both in the inland and marine basins of the Mediterranean and along the Atlantic coast. But he tells himself in the mysteries of this project that the details, the real ones, should be revealed during Benny Gantz’s next visit to the Kingdom.
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