The Taounate block covers an area of about 4,660 square kilometers and is largely unexplored.
Cabre Maroc is operator and holds a 75% interest in the license. The remaining 25% is held by Office National des Hydrocarbures et des Mines (ONHYM). When the license expires, Caithness Petroleum and ONHYM will have the right to apply for an eight-year exploration permit over the area. Cabre Maroc has arranged to acquire an airborne gravity / gradiometry survey, to identify and map structures in the Taounate license area.
Caithness Petroleum’s wholly owned UK subsidiary, Caithness Oil Limited, has been awarded License P1624 over block 23/26c in UK continental shelf’s 25th licensing round. Two prospects have been identified on the block, which lies some 250 kilometers east of Aberdeen in an area close to producing fields. Caithness Petroleum and its partner, Reach Exploration (UK) Limited, each hold a 50% interest in the block, where Caithness Petroleum is the operator. The companies are interpreting 3D seismic surveys over the block to complete mapping of the structures in preparation for future drilling.
