Israel’s NewMed Energy announced on Tuesday a partnership with Morocco’s energy and mining ministry and Adarco Energy for offshore natural gas exploration and production in the North African nation.

“For a long time now, we have recognized a huge potential in Morocco for collaborations in both the natural gas and renewable energy sectors,” NewMed CEO Yossi Abu said in a statement.

According to NewMed, each company will own 37.5% of the Boujdour Atlantique license. The ministry will hold the remaining 25%.

The Boujdour Atlantique license is located in the southern portion of Morocco’s offshore economic zone and was awarded for eight years, according to the firm.

NewMed is a significant shareholder in Israel’s massive Leviathan offshore gas field and is in talks to merge with Capricorn Energy to form a gas producer for Israel and Egypt.

Previously named Delek Drilling, NewMed Energy is a subsidiary of the Delek Group.

JNS

Support
Jewish News Syndicate


With geographic, political and social divides growing wider, high-quality reporting and informed analysis are more important than ever to keep people connected.

Our ability to cover the most important issues in Israel and throughout the Jewish world—without the standard media bias—depends on the support of committed readers.

If you appreciate the value of our news service and recognize how JNS stands out among the competition, please click on the link and make a one-time or monthly contribution.

We appreciate your support.