Lone-Star energy company digs additional oil field in Morocco
Al-Hayat daily has recently published that the Lone-Star energy company has begun digging a second oil field in the Moroccan region of Talsint, following the discovery of an estimated two billion barrels of oil and gas.
This excavation project, according to the company, will paint a clearer picture regarding the availability of oil reserve in this region.
According to IMF statistics, figures for 1999 show that Morocco extracted 11,200 tons of crude oil that year. In 1998, this figure was slightly higher, reaching 11,600 tons, whereas in 1997, Morocco extracted 12,000 tons of crude oil.
The Lone-Star energy company is partly owned by the American Skidmore Company, with 75 percent, while the remaining 25 percent belongs to Moroccan investors, including Prince Mawlay Abdullah Al-Alawi and the Midi Holdings Company.