• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 21 mins Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 8 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 46 mins Could Venezuela become a net oil importer?
  • 24 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 10 hours Why is permian oil "locked in" when refineries abound?
  • 3 hours Saudi Arabia turns to solar
  • 1 min Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 hours Teapots Cut U.S. Oil Shipments
  • 12 hours Oil prices going down
  • 35 mins China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 17 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 13 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 1 day U.S. Withdraws From U.N. Human Rights Council
  • 2 hours EVs Could Help Coal Demand
  • 23 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 13 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
Alt Text

240,000 Bpd Offline Following Clashes In Libya

Continuing clashes between the Libyan…

Alt Text

Canada Bets On Trans Mountain Expansion To Sell Oil In Asia

Due to congested takeaway capacity…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Why Are Oil Majors Converging on “The Secret Coast”?

Some of the world’s most savvy energy investors have converged in a strange place the last few months. A place I call “the secret coast”, because little is known about the geology here, or the potential for discovery.

The place is Morocco—the far northern end of Africa.

Now, it’s no secret there’s a lot of petroleum exploration going on in other parts of the African west coast. There’s been frenetic activity lately in Ghana, Gabon and Namibia (not to mention ongoing work in stalwart producing nations like Nigeria).

But the northern end of this coast, off Morocco—where the Atlantic meets the Mediterranean at the Straits of Gibraltar—is a mysterious place. Little is known about the rocks or the oil pools.

But some high-profile players are betting that a lack of historic work could mean big discoveries are still lurking here. In January, Chevron (NYSE: CVX) bought up three offshore blocks in Moroccan waters. And just last week, BP (NYSE: BP) said it will farm into three offshore licenses here held by Kosmos Energy (NYSE: KOS).

The stats back up their enthusiasm: estimates are that up to 10 exploration wells could be drilled off the secret coast over the next 12 to 18 months… more than all of the wells drilled here since 1990 combined.

An Investment Opportunity in the Making?

Should investors be jumping into companies here for ground-floor profits and a shot at massive…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News