Getech, a world-leading locator of subsurface resources, is pleased to announce incorporation of a subsidiary, HyMaroc Limited, jointly and equally owned with Sound Energy plc (“Sound Energy”), the transition energy company.
On 28 October 2024 both Getech and Sound Energy announced entry into an Exploration Collaboration Agreement. Pursuant to that Agreement, the parties are collaborating to explore for natural hydrogen and helium in Morocco. The initial phase of the Agreement comprised a regional screening study to identify areas of potential interest for more detailed assessment by the parties.
Getech is pleased to report that the regional screening study has been completed and has identified areas of significantly elevated favourability for natural hydrogen and helium occurrence sufficient to warrant further study. Getech and Sound Energy incorporated the subsidiary HyMaroc Limited to negotiate jointly exclusive rights for the exploration and exploitation of hydrogen and helium resources in Morocco, progressing towards necessary geophysical and drilling activities to unlock potential deposits.
Max Brouwers, CBDO at Getech commented: “Getech’s unique hydrogen and helium exploration workflows are built on the twin foundations of our hugely valuable global geophysics data and our ability to understand and model the genetic factors involved in their formation; categorising the geological model into sources, migration paths, reservoirs, traps and seals in much the same way as the petroleum industry has successfully done for many decades.
The establishment of the Joint Venture company together with Sound Energy is the logical next step in our search for these resources in Morocco. It leverages and enhances our leading exploration capabilities in this emerging sector and keeps all commercial options open while requiring no material expenditure commitments. Our next steps are to conduct more detailed local-scale studies on potential in-place resources and secure acreage.”
Background
Morocco is emerging as a highly prospective market for natural hydrogen exploration, thanks to its favourable geological conditions and strategic location. The country’s extensive onshore basins, rich in subsurface resources, are prime candidates for natural hydrogen discoveries. Morocco’s commitment to renewable energy and its supportive regulatory framework further enhance its role as a key player in the global energy transition.
Natural (sometimes also referred to as “white”, “native” or “geologic”) hydrogen has the potential as a future disruptor in energy markets, undercutting green and other low-carbon hydrogen energy sources, at an estimated cost of around $1 per kilogram.
Helium, crucial across sectors such as medical, electronics, aerospace, nuclear and telecommunications, is considered a “critical raw material” by the USA, EU, and Canada due to its irreplaceable nature. Helium and natural hydrogen are often found in the same reservoirs, significantly boosting the economic potential of such discoveries.
