Transitional energy group Chariot Limited and Energean plc group's partnership agreement is now official post regulatory approvals from the Government of Morocco
This gives Energean 45% and 37.5% of the respective interests in, and operatorship of, the Lixus and Rissana licences, offshore Morocco.
Chariot, on the other hand, keeps 30% and 37.5% of the respective interests in these licences, with ONHYM having a 25% stake in each.
Chariot has now received the US$10mn upfront cash consideration from Energean.
A rig contract
Also, as per a rig contract signed with Stena Drilling, the Stena Forth drill ship will be deployed for the Anchois-East appraisal and development well and an optional well, located within the Lixus licence.
This drilling and testing campaign will be conducted in Q3 2024 which will further appraise the existing gas sands, including flow testing, and target undrilled prospective resources to look to increase the Anchois gas development to more than 1 trillion cu/ft.
Adonis Pouroulis, CEO of Chariot, said, “We are very pleased to have received formal approval from the Moroccan authorities for the transaction, for Energean to officially be our partner on the Lixus and Rissana licences and to have the rig contract signed for the Stena Forth. Our teams have been working closely together on well planning to deliver the expedited commencement of this campaign in Q3 2024 and further updates on this will be provided in due course. I would like to thank ONHYM, the Ministry of Energy Transition and Sustainable Development and the Ministry of Finance for their ongoing support in securing the approvals as we look to progress the Anchois project and its surrounding acreage.”
