IOG CEO joins Chariot as non-exec director to provide Morocco expertise
Chariot Oil & Gas has appointed Andrew Hockey, the current CEO of UK North Sea-focused Independent Oil and Gas, as an Independent Non-Executive Director hoping to help it with the development of the Anchois asset offshore Morocco.
Hockey has over 35 years’ experience in the oil & gas industry, with expertise in the development and production of gas assets in the UKCS sector.
He was a founder of Fairfield Energy Limited with whom he is a Non-Executive Director and was previously a Non-Executive Director and Chairman of Sound Energy Plc, a mid-cap Moroccan gas company.
It is his Moroccan experience that Chariot Oil & Gas is hoping to benefit from, as the company in April obtained a 75% interest and operatorship of the Lixus Offshore License in Morocco containing the undeveloped Anchois gas discovery.
George Canjar, Chariot Chairman said: “On behalf of the Company I am very pleased to welcome Andrew to the Board. His experience in Morocco and his expertise with delivering gas appraisal and development projects in the UK and elsewhere will no doubt prove invaluable as we seek to deliver value from the Anchois gas discovery in Morocco. Furthermore, his experience in the oil and gas sector will enhance our decision making and strategic planning.”
Chariot Oil & Gas last month received a positive competent person’s report over resources in its recently acquired block offshore Morocco.
The CPR by Netherland Sewell & Associates Inc. (“NSAI”) over the satellite prospects adjacent to the Anchois-1 gas discovery in the Lixus Offshore Licence upgraded remaining recoverable resources to in excess of 1 Tcf of gas ( (comprising 2C contingent resources and 2U prospective resources).
As previously reported, Chariot in April said it had estimated that Anchois and the satellites held remaining recoverable resources in excess of 900 Bcf.
The initial license commitment includes a technical program of 3D seismic reprocessing and evaluation to access the additional exploration potential of Lixus. Chariot has said that further CPR on additional five prospects identified in Lixus license will be completed after the 3D seismic reprocessing project.
Chariot has said that the excellent quality reservoirs in the Anchois discovery offer the potential for high rate wells and the consequent possibility of a low-cost development.
In its previous presentation Chariot said it might drill an appraisal well at Anchois in mid-2020.
Offshore Energy Today Staff
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