Morocco is preparing to take another step toward strengthening its energy sovereignty through a MAD 9.21 billion investment program dedicated to oil and gas exploration between 2026 and 2031. Led by the National Office of Hydrocarbons and Mines (ONHYM), the initiative relies heavily on private and international investment, expected to finance approximately 91% of the planned expenditure. The program aims to develop Morocco’s domestic energy potential and gradually reduce its dependence on external energy markets.
Energy security has become one of Morocco’s major economic and industrial challenges, particularly given the country’s continued reliance on imported hydrocarbons and the volatility of international energy prices.
Against this backdrop, the Kingdom is seeking to strengthen its domestic exploration capabilities while attracting international partners with the technological expertise and financial resources needed to develop oil and gas projects.
According to information released on November 3, 2026, ONHYM plans to mobilize a total of MAD 9.21 billion between 2026 and 2031 to support exploration activities and assess the country’s geological potential.
The program’s financing structure gives a central role to private investors and international partners, whose expected contribution would reach approximately MAD 8.38 billion, compared with MAD 829 million to be provided directly by ONHYM.
This approach reflects the Moroccan authorities’ determination to develop industrial and financial partnerships that reduce pressure on public resources while facilitating access to specialized technologies and international expertise.
However, oil and gas exploration remains a high-risk investment activity. Its outcomes depend on geological conditions, the commercial viability of potential discoveries, and fluctuations in international energy prices.
The principal challenge is therefore to transform geological potential into economically viable projects capable of progressively diversifying the Kingdom’s energy supply.
This initiative forms part of a broader energy strategy that includes developing natural gas infrastructure, expanding storage capacity, establishing specialized port facilities, and strengthening domestic gas transportation networks.
The Nador West Med port complex occupies an important position within this strategy, particularly through plans for a gas terminal and connections to future national energy transportation infrastructure.
For Moroccan industry, the development of additional natural gas supply capacity could eventually become an important competitiveness factor, particularly for energy-intensive manufacturing activities.
Nevertheless, the announced exploration investments do not guarantee commercially viable discoveries. Their success will depend on technical results, the quality of industrial partnerships, and the availability of appropriate infrastructure.
By mobilizing MAD 9.21 billion, Morocco is demonstrating its ambition to strengthen its position in energy exploration and establish partnerships capable of turning geological potential into productive economic opportunities. The ultimate objective is to reinforce energy sovereignty while supporting the competitiveness of the Kingdom’s industrial sector.
