Connection

popular articles

NANO Nuclear and Curio Solutions Optimize Nuclear Fuel Recycling
Turbulent stock market debut for Oklo, Altman’s nuclear start-up
Chevron sells its remaining oil assets in the UK
Uganda develops nuclear power to diversify its energy mix
French Guiana: the construction permit for a thermal power plant validated on appeal

The Anchois Gas Project in Morocco Suspended: Economic Viability in Question

Despite traces of gas identified at the Anchois-3 well, Energen announces the suspension of the offshore project in Morocco. The decision stems from low economic profitability, impacting the country's energy ambitions.

Please share:

The Lixus offshore license, located off the Moroccan coast, is at the center of energy sector discussions. Energen, the company leading its development, has recently announced the suspension of activities for the Anchois gas project. This decision results from an unfavorable economic assessment of recent findings from drilling activities at the Anchois-3 well.

Mixed results

In September, Chariot Oil, a 30% stakeholder in the project, reported promising indications of gas presence. However, in-depth analyses conducted by Energen revealed insufficient volumes to justify large-scale economic development. According to Mathios Rigas, CEO of Energen, while gas was found, the quantities are not enough to meet the necessary profitability thresholds.

This announcement contrasts with the initial enthusiasm sparked by previous discoveries at the site, particularly those from the Anchois-2 well, which had suggested a more significant potential.

Impact on Moroccan ambitions

Facing high energy dependence, Morocco is banking on gas projects to diversify its energy mix and reduce imports of petroleum products. Natural gas is seen as a critical lever to support the country’s energy transition and meet growing electricity demands.

The suspension of the Anchois project is a setback for these ambitions, particularly in the Gharb basin region, where exploration efforts are concentrated. The Lixus license, jointly held by Energen (45%), the Moroccan National Office of Hydrocarbons and Mines (ONHYM, 25%), and Chariot Oil (30%), remains a strategic focus for the partners. They continue to explore opportunities to monetize previously identified volumes.

Future perspectives for the project

While the Anchois-3 well seemed poised to enhance resource estimates in the region, the decision to suspend the project raises questions about the future of investments in the basin. For Morocco, it also calls for reconsidering strategies to attract international operators.

Attention now turns to potential geological reassessments and adjustments to exploration plans to maximize the use of identified resources. While economic viability remains a significant obstacle, stakeholders may explore partnerships or technological solutions to optimize the exploitation of available resources.

Register free of charge for uninterrupted access.

Publicite

Latest news

Meta contracts 760 MW solar in the United States with Invenergy
Turkey Provides 58 GW of Electricity to Northern Syria in 2024
Croatia attracts Star Energy with a 71% acquisition in geothermal exploration
Puerto Rico invests $150,000 in hydroelectric microgrids
India challenges Chinese $137 billion dam near its border

Recently published in

Moldova: Power Outages and Energy Crisis in Transnistria

The end of Russian gas supplies via Ukraine plunges Transnistria, Moldova's separatist region, into a severe energy crisis, leading to power cuts for its residents and increasing tensions with Chisinau.
Congo welcomes a joint venture between TotalEnergies and Vantage for a ten-year contract
TotalEnergies and Vantage Drilling announce the creation of TEVA Ship Charter LLC, a joint venture aimed at managing the Tungsten Explorer platform for an initial ten-year period in Congolese waters.
en_11401115540
Congo welcomes a joint venture between TotalEnergies and Vantage for a ten-year contract
TotalEnergies and Vantage Drilling announce the creation of TEVA Ship Charter LLC, a joint venture aimed at managing the Tungsten Explorer platform for an initial ten-year period in Congolese waters.
en_11401115540
Slovakia: Strong Gas Reserves in the Face of the End of Russian Transit
Slovakia claims readiness for the halt of Russian gas transit via Ukraine in 2025, despite financial costs and impacts on European markets. Reserves and alternatives ensure national energy security.
en_11401106540
Slovakia: Strong Gas Reserves in the Face of the End of Russian Transit
Slovakia claims readiness for the halt of Russian gas transit via Ukraine in 2025, despite financial costs and impacts on European markets. Reserves and alternatives ensure national energy security.
en_11401106540
The United States warns of power outages as 30% of natural gas is at risk this winter
NERC issues an alert to strengthen the preparedness of energy players as an exceptional cold wave threatens 30% of natural gas production, a key element of the reliability of the U.S. power grid.
en_11401103540
The United States warns of power outages as 30% of natural gas is at risk this winter
NERC issues an alert to strengthen the preparedness of energy players as an exceptional cold wave threatens 30% of natural gas production, a key element of the reliability of the U.S. power grid.
en_11401103540

Mauritania and Senegal Open a First Gas Well with 2.5 Million Tons Capacity

Senegal and Mauritania launch a strategic gas production project with the official opening of a shared well, marking a key step in their regional energy cooperation.
United States: DT Midstream acquires three pipelines for $1.2 billion
DT Midstream completes the acquisition of three pipelines regulated by the FERC from ONEOK. This $1.2 billion transaction strengthens its presence in the Midwest natural gas market.
en_11401087540
United States: DT Midstream acquires three pipelines for $1.2 billion
DT Midstream completes the acquisition of three pipelines regulated by the FERC from ONEOK. This $1.2 billion transaction strengthens its presence in the Midwest natural gas market.
en_11401087540
The United States Secures 11 MTPA with Woodside and Bechtel in Louisiana
Bechtel entrusts Baker Hughes with equipment supply for two liquefaction plants in Louisiana, marking a key advancement in Woodside Energy’s LNG project with a capacity of 11 million tonnes per annum.
en_11401088540
The United States Secures 11 MTPA with Woodside and Bechtel in Louisiana
Bechtel entrusts Baker Hughes with equipment supply for two liquefaction plants in Louisiana, marking a key advancement in Woodside Energy’s LNG project with a capacity of 11 million tonnes per annum.
en_11401088540
Angola launches a major gas field producing 600 million cubic feet
Angola begins production at a strategic gas project in Benguela province, capable of supplying 600 million standard cubic feet per day, addressing growing energy demand and supporting economic diversification.
en_11401069540
Angola launches a major gas field producing 600 million cubic feet
Angola begins production at a strategic gas project in Benguela province, capable of supplying 600 million standard cubic feet per day, addressing growing energy demand and supporting economic diversification.
en_11401069540

Europe: a surplus of regasification capacity in 2024

The rapid increase in regasification capacities in Europe exceeds actual LNG imports in 2024.
Ukraine Receives Its First Shipment of American LNG
Ukraine, in its quest for energy independence from Russia, has received its first shipment of liquefied natural gas (LNG) from the United States. This marks a significant milestone in securing its energy supply.
en_11401047540
Ukraine Receives Its First Shipment of American LNG
Ukraine, in its quest for energy independence from Russia, has received its first shipment of liquefied natural gas (LNG) from the United States. This marks a significant milestone in securing its energy supply.
en_11401047540
Europe bans Russian LNG transshipments for 2025
The European Union strengthens its energy sanctions against Russia by banning natural gas liquefied (LNG) transshipments in its ports from March, as part of its efforts to eliminate Russian fossil fuels by 2027.
en_11401032540
Europe bans Russian LNG transshipments for 2025
The European Union strengthens its energy sanctions against Russia by banning natural gas liquefied (LNG) transshipments in its ports from March, as part of its efforts to eliminate Russian fossil fuels by 2027.
en_11401032540
Qatar aims to sell 61 million tons of uncontracted natural gas
Nearly 40% of Qatar’s projected liquefied natural gas volumes remain uncontracted, raising questions about its strategy amid growing international competition.
en_11401033540
Qatar aims to sell 61 million tons of uncontracted natural gas
Nearly 40% of Qatar’s projected liquefied natural gas volumes remain uncontracted, raising questions about its strategy amid growing international competition.
en_11401033540

Shell and Petronas Accelerate Offshore Projects in Suriname

Shell plans to drill four offshore wells in 2025 in Block 65, while Petronas explores new gas resources in Block 52, highlighting Suriname's energy potential.
Woodside acquires 16.67% of the North West Shelf project in Australia through an asset exchange
Woodside exchanges key stakes with Chevron to strengthen its assets in Australia, consolidating gas projects while increasing carbon storage capacity.
en_1140969540
Woodside acquires 16.67% of the North West Shelf project in Australia through an asset exchange
Woodside exchanges key stakes with Chevron to strengthen its assets in Australia, consolidating gas projects while increasing carbon storage capacity.
en_1140969540
US Sanctions Prompt 33% Increase in Turkey’s LNG Imports
Sanctions against Gazprombank drive Turkey to boost LNG imports. December sees a 33% rise, highlighting a strategic move to secure energy supply for winter.
en_1140940540
US Sanctions Prompt 33% Increase in Turkey’s LNG Imports
Sanctions against Gazprombank drive Turkey to boost LNG imports. December sees a 33% rise, highlighting a strategic move to secure energy supply for winter.
en_1140940540
United States: 31% Predicted Energy Cost Increase with LNG Export Growth
The DOE warns of economic and climate risks associated with increased liquefied natural gas (LNG) exports, with an estimated 31% rise in wholesale prices and significant social impacts.
en_1140941540
United States: 31% Predicted Energy Cost Increase with LNG Export Growth
The DOE warns of economic and climate risks associated with increased liquefied natural gas (LNG) exports, with an estimated 31% rise in wholesale prices and significant social impacts.
en_1140941540

The Dominican Republic installs a 470 MW natural gas plant with Generadora San Felipe

The new 470 MW natural gas power plant built by Generadora San Felipe will strengthen the Dominican Republic’s energy capacity, addressing strategic energy needs while reducing emissions.
The EU claims readiness for winter with high gas reserves and reduced consumption
European Energy Commissioner Dan Jorgensen assures that the European Union is prepared to face energy challenges this winter, despite pressure on gas reserves.
en_1140920540
The EU claims readiness for winter with high gas reserves and reduced consumption
European Energy Commissioner Dan Jorgensen assures that the European Union is prepared to face energy challenges this winter, despite pressure on gas reserves.
en_1140920540
GAIL secures 12 LNG cargoes per year with Qatar Energy Trading for 2025-2030
India’s GAIL has finalized a supply deal for 12 annual LNG cargoes with Qatar Energy Trading. This five-year contract addresses growing volume needs in a global market under strain.
en_1140917540
GAIL secures 12 LNG cargoes per year with Qatar Energy Trading for 2025-2030
India’s GAIL has finalized a supply deal for 12 annual LNG cargoes with Qatar Energy Trading. This five-year contract addresses growing volume needs in a global market under strain.
en_1140917540
Bosnia Embarks on Energy Diversification with New Gas Interconnection
Under international pressure, Bosnia passes a key law to diversify its natural gas supply, reducing total dependence on Russian gas through a connection to Croatia’s LNG terminal.
en_1140890540
Bosnia Embarks on Energy Diversification with New Gas Interconnection
Under international pressure, Bosnia passes a key law to diversify its natural gas supply, reducing total dependence on Russian gas through a connection to Croatia’s LNG terminal.
en_1140890540

OMV ends its historic gas contract with Gazprom

The Austrian group OMV has terminated its long-term contract with Gazprom, ending nearly six decades of energy dependency on Russia after a series of contractual violations.
Natural Gas Prices Expected to Rise by 34% This Winter, According to US EIA
The United States Energy Information Administration (EIA) forecasts a 34% increase in natural gas prices this winter, despite above-average stock levels and generally colder temperatures.
en_1140841540
Natural Gas Prices Expected to Rise by 34% This Winter, According to US EIA
The United States Energy Information Administration (EIA) forecasts a 34% increase in natural gas prices this winter, despite above-average stock levels and generally colder temperatures.
en_1140841540
Ukraine Strengthens Energy Resilience with €80 Million EBRD Loan
A project financed by the EBRD and supported by international grants aims to install 100 MW of decentralized energy capacity in Ukraine, responding to the damage caused by Russian attacks on the national electricity grid.
en_1140787540
Ukraine Strengthens Energy Resilience with €80 Million EBRD Loan
A project financed by the EBRD and supported by international grants aims to install 100 MW of decentralized energy capacity in Ukraine, responding to the damage caused by Russian attacks on the national electricity grid.
en_1140787540
Argus Introduces First Daily Price Indices for Greek Natural Gas
Argus Media revolutionizes the energy market by launching daily price indices for Greek natural gas, providing unprecedented transparency in a context of growing volatility in Europe.
en_1140798540
Argus Introduces First Daily Price Indices for Greek Natural Gas
Argus Media revolutionizes the energy market by launching daily price indices for Greek natural gas, providing unprecedented transparency in a context of growing volatility in Europe.
en_1140798540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS