Chariot Limited, the Africa focused transitional energy group, has announced that it has signed partnership agreements with Energean plc group on the Lixus Offshore licence, where the Anchois gas development project is located, and on the Rissana Offshore licence in Morocco
As per the agreement, there will be funding for both Chariot and the project through upfront consideration, deferred consideration and potentially a full carry to first gas, with Chariot retaining a material stake in the project. It secures an experienced operator for the development of Anchois - Energean is a FTSE 250 company with a proven track record in successfully developing large offshore gas projects. It will accelerate growth from the portfolio, with the potential to significantly upscale the development and target further exploration prospectivity in the Lixus and Rissana licences.
Project Development:
Leveraging their combined expertise to co-develop Anchois, the parties are aligned on the next steps for the project development, including drilling a further well, in the east of the Anchois field and conduct a gas flow test in 2024, with rig contract negotiations advanced. Multi-objective well that will evaluate undrilled low-risk deeper sands, to potentially materially increase the resource base for a development above 1 trillion cu/ft; optimise development scheme through a production flow test; provide a future producer well; expansion of the existing offshore development plan, to accommodate potentially significantly higher production, and finalise ongoing gas sales negotiations with focus on meeting Moroccan energy needs.
The agreement also anticipates progress exploration together across Lixus and Rissana, including a 2024 seismic campaign.
