LONDON, Feb. 23 (UPI) -- Test results from drilling activities in northern Moroccan shale indicated a gas discovery for Gulfsands Petroleum, the company announced Monday.
The company said results from an exploration well dubbed DOB-1 in the Rharb permit area of northern Morocco indicated a discovery after a test-flow rate of 10 million cubic feet of gas per day was achieved.
DOB-1 is the third such success for the company in the permit area, Chief Executive Officer Mahdi Sajjad said in a statement. Morocco is one of the West African countries that have drawn interest from international energy companies eager to tap into unexploited reserves. Onshore, the country holds an estimated 20 trillion cubic feet of recoverable shale oil and natural gas reserves.
Gulfsands, which has headquarters in London, said last year it planned to spend $3.5 million to develop its acreage in northern Morocco.
"We are continuing with our efforts to commence production from these discoveries," the company's CEO said.
Offshore Morocco remains relatively underexplored.
