British Company Announces the Discovery of a Vast Oil Field off Southern Morocco

The British company Europa Oil & Gas has announced the discovery of a significant oil field off the southern coast of Morocco, according to Spanish media.

The Spanish newspaper Ecoticias reported that the field covers an extensive maritime area estimated at 11,228 square kilometers, including coastal zones from Tarfaya, Sidi Ifni, to Tan-Tan.

The field’s reserves are estimated at around one billion tons of extractable oil, making it one of the most important discoveries in the region.

The oil field is located off the coast of Inzegane, near the city of Agadir. Its total value is estimated at approximately $107 billion, based on current oil prices of $107 per barrel.

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