This article is 22 years old. Images might not display.
The deal will see the Petronas subsidiary acquire and prospect an area in the Rabat-Sale Haute Mer area of the North African nation.
Under the terms of the deal, Carigali would "acquire and process" around 2,000 km of the 14,000 square km Rabat-Sale Haute Mer block. This would involve 2D seismic data and a single exploration well. The agreement is for an initial period of three years.
Once this area is explored, the Malaysian company will then acquire and process another 1,000 km area using the techniques utilised in the first area in a first extension period of two years. Following this, another 1,000 km area - with 2D seismic data acquisition and a single exploratory well - is proposed in a subsequent second extension period of around three years.
Under the terms of the deal, Petronas Carigali will be the main operator of the block and will hold a 75% equity interest in the area.
