In a landmark move for the Kingdom’s public sector reform, the National Office of Hydrocarbons and Mines (ONHYM) has officially ratified its conversion into a public limited company.
The decision was finalized during a Board of Directors meeting in Rabat, chaired by Leyla Benali, Minister of Energy Transition and Sustainable Development. The session, which included high-level officials from the National Agency for Strategic Management of State Holdings, also saw the formal approval of the office’s 2024 financial statements and a review of its budgetary trajectory for 2026.
The structural shift follows the House of Representatives’ adoption of a draft law aligned with royal directives for public sector modernization and the implementation of specific framework laws. This transition makes ONHYM the first major Moroccan public institution to adopt a corporate status, a move specifically designed to strengthen governance, enhance operational efficiency, and align the organization with international commercial management standards. According to the official statement, the change in status aims to diversify funding sources, improve performance, and significantly enhance the value of national natural resources.
This development is part of a broader national strategy for modernizing public institutions and enterprises to ensure greater efficiency and closer alignment with private-sector performance metrics. At the sectoral level, the transformation occurs as Morocco strategically repositions itself to achieve greater energy independence and mining competitiveness. Moving forward, the challenge for the newly structured entity will be to reconcile its sovereign responsibility in the exploration and development of natural resources with increased demands for transparency, financial performance, and attractiveness to both national and international partners.
MK/AK/Sf/fss/abj/APA