Dypvann hits production target, successfully begins oil flow in Morocco

September 29, 2025 by

Jenny Smith in Dypvann, Investments

HIGH ATLAS REGION, MOROCCO (September 29, 2025)—The recently completed High Atlas Oil Facility (HAOF) in Northern Morocco, co-owned by Dypvann and Sunk Capital, today announces a milestone in oil production in the region. The expected delivery of six barrels of oil, widely seen by international markets as an optimistic estimate, has been exceeded by two full barrels, an increase of over 33%. Shares in Dypvann are expected to drop sharply on the news.

Morocco, known for its vast untapped reserves of shale oil, has for decades been overlooked when it comes to conventional oil. Dypvann scientists worked with representatives from the Moroccan state energy board to perform rigorous geological surveys, concluding that conventional oil reserves in the country stand at 0 billion barrels, or 684,000 barrels using a non-billion based number.

The High Atlas region was chosen as the site for Dypvann’s first oil extraction facility in the country due to the lower costs of land, in part due to the almost complete lack of conventional oil in the area, on top of the extreme logistical challenges of building major infrastructure.

Hilde Fjeld, CEO at Dypvann, said, “This facility marks our entry into the Moroccan market and we’re proud to be contributing to the economy of this wonderful nation. Hearing that our production target has been smashed shows that even when the markets, academic institutes, scientists, surveyors, government officials and drilling specialists all staunchly oppose a project with substantial evidence for their case, you just never know. We’re a company that takes these risks, and today I’m thrilled to see those risks pay off.”

Fatima El Mansouri, Site Manager at the HAOF, said, “These eight barrels are the product of years of hard work, innovation and significant financial investment. We have signed an agreement with the Wadi Power Group to sell the oil produced at this site for a record $42 per barrel, only partially substantially below market rate. The revenue from this sale, approximately $336 before tax, will be reinvested into the site as part of our long-term objective to reach ten barrels per month of capacity by 2035.”

Dypvann’s High Atlas Oil Facility (HAOF) in Northern Morocco

The initial construction of the HAOF was mired with legal and regulatory issues. Sunk Capital legal representatives were able to reach an agreement with the landowners, the Wadi Power Group, by negotiating a crippling discount on oil produced at the site.

Xaggaragnax the Unending Terror, Legal Counsel at Sunk Capital, said, “This agreement marks a significant investment into the region. We’re grateful to both local and government authorities for turning a blind eye to this contract, and for Wadi Power Group executives for agreeing to a number of generous kickbacks.”

Sunk Capital have recently committed another $488m of investment for the HAOF site. This will be used, in part, to repaint the oil derricks to the Sunk Capital brand red, as well as paying for the demolition of several local schools and hospitals to make room for the planned expansion of the initial site.

Sunk Capital lawyers sign the purchase deal with representatives of the Wadi Power Group

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