Posted by: Global News
Former neighbours Nova Scotia and Morocco are joining forces in a bid to find petroleum riches.
Now, groups in each territory – the Offshore Energy Research Association of Nova Scotia and Morocco’s Office National des Hydrocarbures et des Mines – have signed a memorandum of understanding for research of the offshore petroleum resource potential of both.
The Nova Scotia association said Monday that the study “will compare recently collected seismic and geochemical data to better characterize the common geological elements of the Scotian and Moroccan conjugate margins.”
It said that “there is much to learn” about the potential.
The Nova Scotia government announced earlier this year plans to work with Morocco to reconstruct seismic images from 200 million years ago.
“The parties agreed that a comparative study of petroleum systems along both coastal margins will provide direct benefit to Morocco and Nova Scotia,” the province’s offshore association said in a release Monday.
“The work will allow a more comprehensive integration of scientific and exploration-related results on either side of the Atlantic.”
The provincial government has said that research suggests there is more than 120 trillion cubic feet of gas and eight billion barrels of oil off Nova Scotia’s coast.
In June, it announced it would spend $11.8 million on geoscience research over the next four years to encourage offshore oil exploration.