Fastnet to attract a major partner for Moroccan gas assets

Fastnet Oil and Gas is expecting to seal a deal with a development partner for its highly-rated onshore Moroccan assets before the end of the year.

The news follows the Dublin-based explorer significantly improving the terms of its licensing agreement regarding the onshore Tendrara-Lakbir project, which covers an area of around 14,500sq km in the north-east of Morocco.

It emerged, last year, that the Tendrara licence could hold more than double the amount of reserves than first anticipated and be worth nearly €45m to Fastnet.