Morocco partners with Israeli firm for Sahara offshore oil and gas exploration
On March 11, Israel's NewMed Energy and Morocco's Adarco jointly secured significant rights to explore and produce oil and gas off the coast of Boujdour.
According to media sources, NewMed Energy, owned by Israeli billionaire Yossi Abu, and Adarco, led by Moroccan-Jewish businessman Yariv Elbaz, will each receive a 37.5% stake in the exploration rights for approximately 30,000 square kilometers of offshore territory.
Meanwhile, Morocco's National Office of Hydrocarbons and Mines will retain a