Irish oil exploration company Circle Oil today reported a natural gas at the first well it drilled in Morocco.
The well in the Upper Ouled formation tested gas at a "sustained rate" of 3.32 million cubic feet a day, according to a company statement.
The concession agreement with the Moroccan government in the Ouled N'Zala permit, in the northeast of the kingdom, includes the right of conversion to a production license of 30 years, the company said.
Bloomberg
