Serica Energy plans Morocco farm-out agreements

Serica Farm out MoroccoSerica Energy has announced plans to farm-out its offshore Moroccan interests. (Image source: Freddy Hinojosa/ stock.xchng)Global oil company Serica Energy has revealed intentions to farm-out its interests in two offshore Moroccan blocks


The oil firm manages a 25 per cent working interest over each of its offshore Moroccan blocks, Foum Draa and Sidi Moussa, which have a combined surface area of more than 12,700 sq km.

Serica chairman and interim CEO Tony Craven Walker stated, “We are reaping rewards from our farm-out efforts in Morocco, which we hope to announce shortly.”

The statement came less than two months after Serica entered into a farm-out agreement with Exploration (Luderitz Basin) Ltd, which led to the wholly-owned BP subsidiary gaining a 30 per cent interest in Serica’s offshore Namibia Luderitz Basin Licence 0047.

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