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Morocco to Spend $580 Mln to Attract More Tourists

People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
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Morocco to Spend $580 Mln to Attract More Tourists

People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)
People walk past a solar tree that generates energy using panels, in front of the landmark Kotoubia mosque in Marrakech, Morocco, Nov. 12, 2022. (AP)

Morocco plans to spend 6.1 billion dirhams ($580 mln) up to 2026 to develop its tourism sector in order to attract more visitors and bring in hard currency, the government said on Friday.

The government plans to spend more money on marketing, develop more types of attractions for tourists, upgrade hotels and build new ones, and train more people to work in the sector, the prime minister's office said.

It aims to attract 17.5 million tourists by 2026, up from 11 million last year. In 2019 Morocco had 13 million visitors.

The plan would help create 200,000 new jobs in the sector over the next four years, the government said.

Last year, the sector's revenue more than doubled compared to 2021 to 91 billion dirhams, exceeding 2019 levels.

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Egypt's EGAS Awards 6 Blocks in Mediterranean, Nile Delta, N. Sinai to Int’l Companies

A general view of the Nile River from the Egyptian capital, Cairo (Reuters)
A general view of the Nile River from the Egyptian capital, Cairo (Reuters)
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Egypt's EGAS Awards 6 Blocks in Mediterranean, Nile Delta, N. Sinai to Int’l Companies

A general view of the Nile River from the Egyptian capital, Cairo (Reuters)
A general view of the Nile River from the Egyptian capital, Cairo (Reuters)

Egypt's EGAS has awarded four blocks in the Mediterranean, one in the Nile delta, and one in North Sinai to international companies, according to a petroleum ministry statement on Wednesday.

Companies will invest $ 245 million to drill at least 13 new exploratory wells during the exploration period.

A consortium of Chevron Egypt and  Shell's BG Group was awarded the North Samian offshore block and Northwest Atoll offshore block, where it will drill two exploratory wells in each block.

The North Ras El Tin offshore block was awarded to Eni's IEOC, with plans to drill three exploratory wells.

Cheiron Egypt will drill three exploratory wells in East Alexandria offshore block, while IPR will drill two exploratory wells in the North Tanta onshore block and Perenco will conduct 3D seismic survey and drill one exploratory well in El Fayrouz onshore block in North Sinai.