Tangiers Petroleum eyes Morocco block farm-out

By Iain Esau

 31 May 2012 22:59 GMT

London-listed junior Tangiers ­Petroleum is on the hunt for one or more farminees to its Tarfaya Offshore permit in Morocco, writes Iain Esau.

Macquarie is handling the planned farm-out, with interest expected to be high given Morocco’s emergence as a promising frontier play for the likes of ­Kosmos Energy and Anadarko ­Petroleum, who have had major exploration success on the West Africa Transform Margin.

A virtual data room is open, and a physical data room set to open in mid-June, with bids due in July.

Chairman Mark Ceglinski said two weeks ago that well costs would be around $25 million, given the block’s shallow waters.

Tangier has integrated newly reprocessed 3D and 2D seismic data with information…

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