Petrobras and the Moroccan National Office for Hydrocarbons and Mines (ONHYM) signed a Memorandum of Understandings (MOU) aimed at elaborating viability studies for commercial schist (oil-generating bituminous rocks) field development in block Timahdit 2, in Morocco.
Carried out by Petrobras' International and Downstream teams, in cooperation with ONHYM technicians, the evaluation studies will be undertaken for a maximum 24-month term and will encompass environmental, economic, technical, commercial, and legal issues.
Block Timahdit 2 is located 240 kilometers away from Rabat, in an area of nearly 94 square kilometers.
Depending on study results, mining is not expected to include the entire Timahdit 2 block, but its huge dimensions were one of the criteria used to select it. Other criteria were oil content, and the availability of technical data and geological characterization studies. The ONHYM has been researching and undertaking several projects since 1970, including building a pilot oil production plant in Timahdit.
It is estimated Morocco's total bituminous rock resources reach 95 billion tons (the world's 6th biggest), containing total oil reserves in the range of 50 billion barrels.
