PetroMaroc has a 22.5% working interest in the Zag Exploration Licence that covers 14,632 square kilometres in southern Morocco. The property lies within the Zag-Tindouf Basin and is the westernmost part of the prolific Palaeozoic Basin, stretching across Algeria, Libya and Tunisia, where 47 billion barrels of oil equivalent have been discovered to date.
Directly east of the Zag basin is the Algerian Reggane basin, where Repsol announced an 800 billion cubic foot discovery in 2009. During 2008, the operator of the Zag basis, San Leon, completed a 15,000 kilometre aeromagnetic survey that confirmed the potential for large structures over extensive areas.
In January 2012, a 2-D seismic programme of 1,674 kilometres was completed on the Zag Exploration Licence. The programme covered a regional grid of around 10 kilometres spacing over the eastern half of the licence. This was the first 2-D survey in what the Company believes is a highly prospective basin.
Zag Basic Data
|Licence||Exploration Licence, Onshore|
|Area||14,632 km2 (3.7 million acres)|
|Exploration To Date||15,000 km aeromagnetic survey, geochemical & field studies|
Completed 2-D seismic programme of 1,674 km
|Work Programme||Additional G&G following recent seismic acquisition|
|Reservoir Depth||1500 – 5000 metres|
|Hydrocarbon Source Rocks||Lower Silurian (primary source), Middle Devonian Frasnian|
|Trap Style||Structural traps in fault blocks and folded anticlines|
|Petromaroc Interest||22.5% post ONHYM back in San Leon (52.5% operator)|