North African country set to offer some of the most lucrative opportunities in the regions energy sector in 2016
The appointment of technical consultants for Moroccos $4.6bn gas-to-power scheme has raised the levels of excitement over one of the regions most eagerly anticipated projects of the year.
While some of the most lucrative markets struggle to get moving with the next round of projects, with Saudi Arabia undertaking major economic reforms and Kuwait maintaining a slow pace, Moroccos multi-billion dollar gas-to-power project is being courted by some of the largest firms active in the regions contracting and project financing sectors.
With contractors eager to find out more information on the scope of the packages for the energy mega project, the award of the technical consultancy contract to Frances Sofregaz and Denmarks Ramboll should begin to get the ball rolling. The next step will be selecting the financial adviser, with the client, Office National de lElectricite et de lEau Potable (ONEE), having received proposals in the first quarter of the year. Once the financial consultant is in place, real progress with selecting and beginning the procurement process can be made.
ONEE followed the selection of the technical consultants with the invitation for bids for the liquid natural gas (LNG) advisory role. With the project set to be one of the most technically demanding Moroccos power sector has undertaken, the decision to appoint various consultants is a wise one and will ensure that the project is on the best possible footing to succeed.
ONEE has also initiated plans for new hydro power facilities and an electrical interconnection with Portugal, further enhancing the kingdoms position as one of the Middle East and North Africas most exciting utilities markets in 2016.
With the regions projects sector still reeling from the drop in oil price, regional and international contractors, developers and lenders will hope that Rabat can deliver on its ambitious pipeline as swiftly as possible.
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