LE BRIEF

Morocco: oil and gas exploration programme approaching US$1 billion envisaged through 2031

LE BRIEF • 2026-10-28

The 2027 budget documentation outlines MAD 9.21 billion in exploration spending through 2031. Private companies are expected to fund about 91%, with no guarantee of commercial discoveries at this stage.

LE BRIEF — Wednesday, 28 October 2026 edition By the LE BRIEF newsroom Country : Morocco Event : Projections presented with 2027 budget documentation and reported on 26–27 October 2026. Onshore oil production: supplied illustrative photograph. It is not presented as an identified Moroccan installation. Morocco envisages approximately MAD 9.21 billion, close to US$1 billion, for oil and gas exploration through 2031. The programme appears in a report on public enterprises presented by the Ministry of Economy and Finance as part of the draft 2027 budget. The aim is to improve geological knowledge and identify further resources that could be commercially developed. The stated amount represents projected investment, not expenditure already made in full. Private companies expected to provide most funding Private companies are expected to fund approximately 91% of the programme, working with the National Office of Hydrocarbons and Mines. ONHYM plays a central role in promoting exploration and partnerships with operators. At the end of 2025, eleven companies were engaged in exploration in Morocco. The relevant permits covered approximately 107,000 square kilometres, according to the figures cited in the supplied dossier. Diversifying supply without assuming discoveries Morocco remains dependent on energy imports. Developing domestic resources could diversify supply and reduce exposur...