Circle Oil completes Morocco pipeline

AIM-listed Circle Oil has announced it has completed a pipeline in Morocco to deliver gas it discovered in the past four years in the Rharb Basin to local industry.

The eight-inch Sebou (DRJ)-Kenitra pipeline runs for around 55km with a capacity of 23.5 million standard cubic feet per day.

It has been connected to seven of the ten potential producing wells, with tie-in for the remaining wells scheduled for completion during the current quarter.

These wells were discoveries made during the explorer’s drilling campaigns of 2008-2009 and 2010-2011.

The pipeline is now undergoing pressure testing due to be completed by the end of the month prior to commissioning and the start up of increased gas delivery to local industry, Circle Oil said in a statement on Monday.

Circle Oil is an international exploration, development and production company with assets in Morocco, Tunisia, Oman and Egypt.

It owns a 75% interest in the pipeline with state partner the National Office for Hydrocarbons and Mining (ONHYM) holding the remaining 25%. It holds a 75% interest in the Sebou and Lalla Mimouna Permit Concessions and a 60% in the Oulad N’zala Permit Concession, with ONHYM holding the respective remainder of each concession.

The Middle East and North Africa-focused junior also announced meanwhile it had appointed Tarek Elbarkatawy as the new general manager for its Egyptian operations.

Elarbkatawy, a 24-year industry veteran, would be responsible for managing the player’s 40% interest in the northwestern Gemsa concession and identifying fresh exploration opportunities in Egypt, Circle Oil said.

Source: Upstream Online


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