After recent gas discovery, Chariot secures more acreage offshore Morocco

Africa-focused energy company Chariot has expanded its footprint offshore Morroco with the award of a new licence, enabling the company to capture exploration upsides in the basin, which also holds its recent Anchois gas discovery.

Chariot informed on Monday that its wholly-owned subsidiary was formally awarded operatorship and a 75 per cent stake in the Rissana licence – located offshore Morocco – in partnership with the Office National des Hydrocarbures et des Mines (ONHYM), which holds the remaining 25 per cent interest.

Amina Benkhadra, General Director Office National des Hydrocarbures et des Mines, remarked: “We are pleased to formally award Chariot the Rissana licence, offshore Morocco. ONHYM and Chariot recently conducted a highly successful drilling campaign in Morocco and we hope that we will be able to have similar success on Rissana.”

The newly awarded Rissana licence covers an approximate area of 8,489 km² and surrounds the offshore area of Chariot’s existing Lixus licence, where the firm announced the conclusion of successful drilling operations at the Anchois field back in January 2022, confirming significant new gas discoveries.

At the time, Adonis Pouroulis, Chariot’s acting CEO, explained that the company was feeling excited about the positive drilling results and the commercial potential of the expanded Anchois field along with the material upsides in the wider Lixus licence area.

Regarding the latest licence award, Chariot believes that Rissana provides material additional potential running room on-trend with the Anchois gas discovery and reinstates the highest potential areas of the former Mohammedia offshore area into Chariot’s portfolio.

Commenting on the latest licence award, Pouroulis stated: “As we demonstrated with our recent successful drilling campaign at Anchois, this is a highly prospective basin and, along with the Lixus offshore licence, the award of Rissana ensures that we have captured the exploration upsides in this exciting play. In parallel with the development plans on the Anchois gas field, we aim to maximise value from the exploration upsides in what we believe is a low risk and high-value opportunity.”

The initial minimum licence commitment is the acquisition of a 2D seismic survey, which will help to evaluate the extension and potential of these gas plays across Rissana, according to Chariot. Based on the firm’s statement, the new licence covers the most prospective northern areas of the previously held Mohammedia and Kenitra offshore licences.