Middle-East focused oil explorer Gulfsands Petroleum is to fast track data from scans of its Rharb permit as it looks to kick off drilling.
The firm hopes to have finalised information on the 225 square kilometre area on the south-west fringe of the Moroccan site by the start of next month.
Subject to weather conditions, work could begin on a new well for the prospect as early as April, Gulfsands said today.
The find is thought to contain more than 24billion standard cubic feet of gas.
“We are in the very fortunate position of having the financial and personnel resources to be able to develop our existing businesses in parallel with examining the very interesting new business opportunities that our board and advisors have brought to the company,” said chief executive Mahdi Sajjad.
Gulfsands, which confirmed its Syrian assets remain shut down due to the ongoing civil disruption in the country, had begun gearing up for its work in Columbia after farming out a 45% stake in its operations there to Luna Energy.