Morocco, USA Sign Accord on Investment Promotion.
U.S., ONAREP sign grant for feasibility study on gas production in Essaouira basin.
Japanese loan to finance road project in Morocco.
Repsol hits oil at Tridente prospect near Casablanca field in Mediterranean.
Oil does exist in Morocco, minister confirms.
Rabat hosts Arab-African forum on children's sexual exploitation in October.
Morocco's Government Examines SME Promotion Strategy.
French Exhibition In Morocco In October.
Morocco's railway company to be turned into limited firm.
Rally: Aicha des Gazelles trophy slated for end of march.

Morocco, USA Sign Accord on Investment Promotion.

RABAT - Morocco and the United States signed Wednesday an agreement to augment the funding for an existing technical assistance agreement for "Promoting Domestic and Foreign Investments."

This latest amendment brings the total budget for USAID's Economic Growth strategy to $7,210,000 or about 79,500,000 dirhams. This five-year strategy, managed by the United States Agency for International Development (USAID) and scheduled to run through 2004, will eventually provide a total of $18.1 million or approximately 198 million dirhams to support Morocco's economic growth. The overall objective of the USAID strategy is to improve the environment for investment in Morocco by facilitating economic, judicial, and administrative policy reform and improving the capacity of business support institutions to promote private-sector growth and expansion. Speaking at the signing ceremony, US Ambassdor to Morocco Margaret Tutwiler said she was satisfied over the conclusion of the accord which will shore up cooperation and partnership between the two countries. "The global amount earmarked for our economic growth partnership stands at more than $ 7 million,"said the ambassador, adding this cooperation program is still at its first stage. The program will go up until 2004 with US contributions being around $ 18 million.

http://www.map.co.ma/english/dispatches/national_news.htm

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U.S., ONAREP sign grant for feasibility study on gas production in Essaouira basin.

Economics, 9/26/2001

The United States donated Morocco $177,063 destined to co-finance a feasibility study related to the Toukimt and Meskala Gas Simulation project in the Essaouira basin. The grant, extended by the U.S. Trade and Development Agency (TDA), will co-finance, with The Moroccan board for oil research and exploitation (ONAREP), the project whose total cost is estimated at $354,126. Director General of ONAREP, Ms Amina Benkhadra, and U.S. Ambassador to Morocco, Ms Margaret Tutwiler, signed the agreement in Rabat Tuesday. This grant brings total TDA grants to Morocco since 2000 to $ 2.5 million, and underscores, once again, U.S. commitment to helping Morocco develop its energy sector. In the course of the signing ceremony which was attended by senior Moroccan and American officials, Ms. Benkhadra conveyed her sincere condolences to the families of the missing in the U.S. attacks of September 11, and her solidarity with the American people. In response, Ambassador Tutwiler voiced her strong commitment to advancing U.S.-Moroccan cooperation in all fields. "Morocco has been a real success story in terms of its interest in developing infrastructure, and its ability to recognize the value and potential for U.S. Trade and Development Agency projects to help it reach that goal. In fact, TDA selected Morocco, out of all nations in the Middle East and North Africa, as a model country for the year 2001." 

ONAREP has been producing gas and condensate from two fields in the Essouira Basin for more than 15 years. The two fields have production problems which include excessive water in certain wells, fall of pressure, decline in productivity and salt deposits in one well. The funding will allow for an integrated simulation study that applies petrophysical, geological, geophysical, reservoir and production engineering data to mitigate these problems. The study will be conducted by a US contractor to be selected after a tender. Two ONAREP representatives will work with the selected contractor on some key elements of the study. After the study is completed, the simulation will be used to understand the causes of water production and condensate dropout, and to minimize the water production in order to optimize the gas and condensate. The simulation will also allow ONAREP to look at probable reserves in both fields, study future operating scenarios for planning future development, determine optimum location of future production and injection wells, make informed recommendations for training, and explore all means to maximize the potential of the two fields.

http://www.arabicnews.com/ansub/Daily/Day/010926/2001092640.html

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Japanese loan to finance road project in Morocco.

Economics, 9/25/2001

The Japanese bank for international cooperation has granted Morocco a loan worth 12.76 billion Yens (about 1.26 billion Dirhams or 114.54 million Dollars) destined to finance a 120 km long section of the Mediterranean bypass between the northern city of Tetuan and Jebha. A statement released by Morocco's embassy in Japan said the loan related agreement was signed last Friday in Tokyo by Moroccan ambassador to Japan and the bank's chief. The loan will be paid back over a 30 year period with a 10 year grace period and an interest rate of 2.2%. The loans extended so far to Morocco by the Japanese government total 14 billion DH (about $ 1.27 billion). The 520 km long Mediterranean bypass, whose cost is assessed at 3.52 billion DH (about $ 320 million), will connect the northern cities of Tangier and Tetuan in the west to Berkane and Oujda in the east.

http://www.arabicnews.com/ansub/Daily/Day/010925/2001092540.html

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Repsol hits oil at Tridente prospect near Casablanca field in Mediterranean.

By the OGJ Online Staff

HOUSTON, Sept. 21 -- Repsol-YPF SA has found oil at its Tridente prospec t, south of Barcelona in the Mediterranean Sea. Necora-1 and Bocarte-1 wells each produced on test up to 5,000 b/d of "excellent quality" 47°-gravity oil, Repsol said. Repsol plans to drill a third hole before yearend and afterwards will evaluate production possibilities. If development is approved, Repsol will tie back the wells about 12 km to the Casablanca platform, which is producing 7,500 b/d of oil from Chipiron, Casablanca, Rodaballo, Boqueron, and Barracuda fields. From Casablanca, production would be transported through the existing pipeline to Repsol-YPF's Tarragona refinery.

http://ogj.pennnet.com/articles/web_article_display.cfm?Section=OnlineArticles&ARTICLE_CATEGORY=ExplD&ARTICLE_ID=119703

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Oil does exist in Morocco, minister confirms.

Economics, 9/28/2001

The Moroccan energy and mining minister on Wednesday confirmed the existence of oil in Morocco, but conceded that the reserves are not yet determined. Oil and gas exist in Morocco but it is still too early to determine the national reserves, Mustapha Mansouri, who is also industry and trade minister, told a meeting held in Casablanca by the Moroccan Energy Federation. Morocco had announced in 1999 the find of important oil reserves in Tansint, south-eastern Morocco. According to earlier estimates, oil and gas reserves at Talsint are assessed at 1.5 to 2 billion barrels. Morocco, which imports 50 million barrels per year, had issued drilling licenses to several world companies which are now operating in several off-shore and in-shore areas in the country.The North African country had passed a hydrocarbon law offering attractive terms to existing and potential newcomers, and has managed to attract oil major Royal Dutch Shell, among other mainly independent U.S. and Canadian firms, to take up more tracts. State share was reduced to a maximum 25 percent in exploration permits and exploitation concessions, and royalty was set at 10 percent for onshore and shallow offshore tracts with exemption for the first 300,000 tons of crude produced. Rates fell to seven percent for deep offshore blocks over 200 meters in depth with an exemption for the first 500,000 tons produced. Gas royalty ranged between 3.5-5 percent. Companies were also exempt from corporate tax from the date of starting production for a consecutive 10 years. During the Casablanca meeting, the energy and mining minister said the drilling in Talsint were "revealing." The 50 licenses issued so far to world-famed firms confirm that "signs are positive," said Mansouri. "We are extremely upbeat as to the discovery of oil and gas in our territory, but it is still too early to determine the volume of reserves," he said.

http://www.arabicnews.com/ansub/Daily/Day/010928/2001092821.html

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Rabat hosts Arab-African forum on children's sexual exploitation in October.

Culture, 9/28/2001

http://www.arabicnews.com/ansub/Daily/Day/010928/2001092817.html

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Morocco's Government Examines SME Promotion Strategy.

Moroccan News Agency (Rabat) Saturday September 22, 2001 -

Morocco's prime minister, Abderrahmane Youssoufi, chaired on Friday a session of the inter-ministerial commission in charge of following up enforcement of royal instructions meant to speed the development pace and promote small and medium-size enterprises. The strategy was developed following contacts with several partners and professional associations in various regions of the kingdom. It evolves around easing administrative, legal and fiscal procedures, and set rules and conditions likely to increase opportunities offered to small and medium enterprises. The law acting as a charter of SME's, adopted by the government last May, will be submitted the parliament for approval in its fall session.

http://www.middleeastwire.com/morocco/business/stories/20010922_meno.shtml

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French Exhibition In Morocco In October.

Moroccan News Agency (Rabat) Posted Tuesday September 25, 2001 -

Casablanca - An outstanding French exhibition, France-Expo 2001, will be held in Casablanca next October 2 through 5, with the participation of more than 320 exhibitors. France, which is Morocco's first foreign client and supplier, seeks to consolidate its presence in this country that it considers as one of "the great development poles" in the African continent, France's ambassador to Morocco, Michel de Bonnecorse, told reporters here Monday. The showcase of French products and know-how is meant to seek new industrial and commercial partnerships, the organizers said at a meeting with the media organized by the French chamber of commerce and industry in Morocco.

http://www.middleeastwire.com/morocco/business/stories/20010925_1_meno.shtml

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Morocco's railway company to be turned into limited firm.

Business, 9/24/2001

Morocco said it will turn the state-owned railway company (ONCF) into a limited firm to be dubbed Societe Marocaine des Chemins de Fer. The company will also allow private firms to exploit national railway infrastructure, Moroccan transport and merchant navy minister, Abdeslam Znined said recently at a meeting of the ONCF governing board. The project is ready and will be submitted to the government for approval, the minister said, adding the authorities have been trying to restructure the ONCF over the past few years.

http://www.arabicnews.com/ansub/Daily/Day/010924/2001092444.html

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Rally: Aicha des Gazelles trophy slated for end of march.

Sports, 9/28/2001

The 12th edition of the Aicha des Gazelles trophy, open solely to women, will be staged next March 25 through April 2, organizers announced Thursday. The rally will kick off from Erfoud or Marzouga in southern Morocco, the organizers said, adding the course of the competition is being finalized. Drivers of four-wheeled cars from various countries will participate in this test of

endurance, courage, determination and enthusiasm to conquer the desert. They will live through an unparalleled adventure that offers fabulous landscapes and provides opportunity to discover the splendor and magic of desert, challenging the grueling desert terrain in Southern Morocco and plunging in exoticism. More than 50 teams, including 6 Moroccan, had participated in the previous edition.

http://www.arabicnews.com/ansub/Daily/Day/010928/2001092816.html

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