The National Office of Hydrocarbons and Mines (ONHYM) has outlined a substantial investment program amounting to 900 million dirhams (MDH) for the period of 2025-2027. This program, detailed in the report on public institutions and enterprises (EEP) accompanying the upcoming Finance Bill (PLF), is poised to enhance Morocco’s energy infrastructure across several strategic sectors.
The investment plan allocates 223 MDH to midstream activities, 141 MDH to hydrocarbon production, 108.5 MDH for oil exploration, and 76 MDH for mining exploration, according to the Ministry of Economy and Finance’s website.
Significant achievements have already been made in 2024, with ONHYM advancing critical projects in natural gas transport and storage, including progress on the ambitious Nigeria-Morocco Gas Pipeline. Notable milestones include the finalization and optimization of both maritime and land routes, alongside preparations for tendering the pipeline’s construction. Additionally, the launch of work on the Intergovernmental Agreement and Host Country Agreement in late August 2024 marks a crucial step toward the realization of this strategic venture.
In terms of financial performance, ONHYM is projected to close 2024 with a revenue of 482 MDH, a slight 2% drop from the previous year. Net profits are expected to decrease by 24%, reaching 142 MDH. The organization’s 2024 investments, totaling 200 MDH, primarily focus on key projects such as the Tendrara gas development, maintenance of the Maghreb-Europe Gas Pipeline (GME), the construction of the first section of the Atlantic Backbone Pipeline between Kenitra and Mohammedia, and further studies related to the Nigeria-Morocco Gas Pipeline.
