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Morocco: huge offshore oil field discovered

Flag of Morocco [Kristin Harvey/Flickr]
Flag of Morocco, 8 May 2019 [Kristin Harvey/Flickr]

A huge oil field has been discovered off the coast of Morocco by British company Europa Oil & Gas, Spain's Motorpasion website has reported. The reserves in the field are valued at billions of dollars.

"The discovery is a treasure," said the website. "Its value is put at about €110 billion, which is roughly equivalent to Morocco's GDP in 2020, when it amounted to $112 billion."

The oil discovery sparked controversy in Spain, after anti-Morocco news and television websites insisted that the field is "located in the maritime borders of the Canary Islands of Spain."

However, Spanish Foreign Minister Jose Albares and the President of the Canary Islands, Angel Victor Torres, stressed that, "The discovery is located within the territorial waters of Morocco, and not as otherwise claimed."

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