Energean Hits a Duster in Morocco

Another Blow to Morocco's Ambitions to Become a Regional Energy Hub

Key Points

• Energean, a UK-based energy company, has announced that its Anchois-2 appraisal well in Morocco has come up dry.
• The well was targeting the Anchois gas field, which was previously estimated to hold up to 1 trillion cubic feet of gas.
• The failure of the Anchois-2 well is a major setback for Morocco's plans to become a regional energy hub.

Energean has been exploring for gas in Morocco since 2019. The company has drilled several wells in the country, but none have yet been successful.

The failure of the Anchois-2 well is a major blow to Morocco's ambitions to become a regional energy hub. The country has been hoping to develop its gas reserves to reduce its dependence on imported energy and to become a major supplier to Europe.

The failure of the Anchois-2 well is also a setback for Energean. The company has been hoping to use its success in Morocco to expand its operations in other parts of Africa.

The failure of the Anchois-2 well is a reminder of the risks involved in exploring for oil and gas. Even in areas where there is a high probability of success, there is always the chance that a well will come up dry.

Despite the setback, Energean says it remains committed to exploring for gas in Morocco. The company says it will continue to drill wells in the country and is confident that it will eventually find success.