Fastnet finds ‘good potential gas flow’ in Morocco

Fastnet Oil & Gas, a Dublin-based exploration company, has said an independent assessment of its onshore gas assets in Morocco have revealed good potential gas flow rates.

The study, carried out by SLR Consulting, points to a best estimate gross recoverable resource of 310.5 billion cubic feet of gas, based on a recovery factor of 65 per cent.

The assessment covers the eight exploration permits granted under the Tendrara-Lakbir licence.

Fastnet managing director Paul Griffiths said the work, which included an assessment of historical drilling problems, would pave the way for "fast-moving drilling programme based on a sound assessment of geological and well operations risks".