Energean strengthens offshore gas presence in Morocco

Sunday 11 May 2025 - 15:08

By: Zahouani Ilham

Energean strengthens offshore gas presence in Morocco

Energean, a leading company in natural gas exploration and production across the Eastern Mediterranean, has officially entered the Moroccan market by securing two offshore exploration licenses in the Lixus and Rissana regions.

This strategic move marks a northward shift in Energean’s operations within Morocco, with drilling set to begin in August 2024 in the Anshwa area. The initiative is part of a broader restructuring of the company's asset portfolio, prioritizing underexplored offshore zones with high gas potential and reducing its involvement in mature fields across Northern Europe.

Energean is betting on Morocco’s legal stability and strategic location to support its expansion, positioning the country as a central player in the group’s evolving investment strategy.

Africa as a New Investment Focus
Since announcing plans in December 2024 to expand across the Maghreb, the Balkans, and the North Sea, Energean has redirected its investments toward energy basins with untapped resources. This shift aims to meet rising domestic energy needs while leveraging areas with high growth potential.

An internal source noted that Energean’s development model aligns well with Africa’s offshore regions, which remain largely unexplored despite their vast reserves. The strategy combines supply security with diversification beyond continental Europe.

Upcoming Energy Forum in Paris
Energean’s CEO, Mathios Rigas, is scheduled to speak at the Investing in African Energy Forum (IAE 2025) in Paris on May 13–14. The event will gather representatives from African nations, investors, and industry stakeholders to discuss enhancing Africa’s energy independence through its own natural resources.

At the forum, Energean will showcase its strategic vision, shaped by its Eastern Mediterranean experience, and advocate for a faster energy transition on the continent through low-carbon initiatives that align with the industrial goals of southern nations.