Morocco has succeeded in becoming the new investment hub for oil and gas, according to Amina Benkhadra, Director General of the Moroccan National Hydrocarbons and Mining Company (ONHYM), reported.

In her opinion, Oil & Gas Council Morocco’s political and economic landscape has a favorable tax system, made the country seems like the safest place for operating in Africa.

“Morocco has upstream potential which is being developed, but this will take time. On the other hand, we have a very well-developed downstream industry,” Benkhadra said.She added ONHYM had implemented a strategy refocusing on hydrocarbon exploration, evaluation and promotion. These effects permitted to attract a host of oil and gas players, making Morocco a new investment hub.  “The growing interest of oil companies including the majors confirms that  She added that Morocco was an under-explored hydrocarbon province that offered high-impact exploration opportunities across multiple play types.