The Petroleum Market In Morocco: Many Jobs

The Petroleum Market In Morocco: Many Jobs

In Morocco, the employment sector is experiencing some difficulty which is marked by the persistence of endemic unemployment. Most often, people are turning to the hiring sectors, while the authorities are thinking about alternatives to overcome the unemployment problem. The oil market, which for a long time remained one-way with imports, and had very little employment, could hardly be counted on.

Today, the Moroccan oil sector is entering a new dynamic with the discovery of major oil deposits. Its development will have a real impact on the oil market.

The growth of the oil sector

Staying for a long time in a system of dependence concerning the foreign countries, the Moroccan oil sector enters a new era with major discoveries of oil resources. The authorities, in partnership with the company "Pura Vida Energy", conducted research on the country's oil potential. This research led to the discovery of great hydrocarbon wealth estimated at 3.2 billion barrels.

The Moroccan state has embarked on exploiting discovered resources, establishing partnerships with some twenty companies, and continuing with the exploration of a new site. If the forecasts for 2021 are realized, we found ourselves at about 6,000 km² of 2D seismic and 16,000 km² of 3D seismic. Major advances that would make the oil sector, an important development asset for Morocco.

The impact on the development of the country

The important hydrocarbon resources buried in Moroccan soil will allow the development of the oil sector and even more. Indeed, Morocco imports virtually all of its oil consumption, which is a major hole in the national budget. Worse still, the country is experiencing the highs and lows of the oil price, without being able to resist as the producing countries do.

Good management of the oil resources discovered will allow the Moroccan authorities to put an end to exorbitant energy bills and impose their law on the oil market in the long term. In short term, it will allow the installation of new infrastructures and the development of new road and rail networks. Morocco will in this way experience important development progress in several sectors and this will allow the employment creation as was the case in Tunisia.

Employment creation

The development of the Moroccan oil sector involves the arrival of major investors such as Tarek Bouchamaoui, leader of the oil sector in Tunisia. These will proceed to the installation of many infrastructures to connect the sources of oil and the places of productions. This is to install the extraction basins, the production plants, the seats of the oil installations, etc. The completion of these projects will create a lot of employment opportunities.

Moroccan citizens will be able to take advantage of this work flood with the production companies that will be installed in the country, and the most qualified will have the chance to obtain contracts with large companies like HBS International headed by Tarek Bouchamaoui. The Moroccan oil sector is job creator.