Genel: Oil presence confirmed at Cap Juby well, offshore Morocco
Genel Energy has informed that the JM-1 well on the Cap Juby prospect offshore Morocco has encountered oil shows.
The well is currently at 3,100 metres, with 600 metres left to drill to the prognosed Middle Jurassic primary target.
Genel said that exploration wells are planned on both the Sidi Moussa and Mir Left licences during 2014 using the Noble Paul Romano semi-submersible rig. On the Sidi Moussa licence, the most likely target is the Nour prospect. On Mir Left, prospect maturation is currently ongoing.
Tony Hayward, Genel CEO said: “In Africa we have begun a high-impact exploration programme targeting over 900 mmboe of prospective resource this year, with the first well underway in Morocco and a further three to follow in Malta and Morocco. Each well has the potential to make a material impact on our already significant reserve and resource base.”