UK independent Chariot Oil & Gas has been awarded a 75% interest and operatorship of the Kenitra offshore exploration permit, in Morocco.
Chariot says Kenitra, together with the neighboring Mohammedia Offshore Exploration Permits I-III, could contain more than 1 billion bbl.
Chariot will hold the license in partnership with Morocco's Office National des Hydrocarbures et des Mines (ONHYM), which has 25% interest.
Chariot and ONHYM have already started a seismic acquisition campaign covering both Mohammedia and Kenitra using Norwegian geoscience firm Polarcus. The Polarcus Asima (pictured) is currently operating offshore Morocco.
Kenitra, which covers 1400sq km and in 200-1500m water depths, was formerly part of the Rabat Deep Offshore Exploration Permits I-VI, in which Chariot has a 10% interest and a capped carry on the RD-1 well, which is due to be drilled in early 2018.
The Kenitra acreage, which was recently relinquished, as part of the Rabat Deep license conditions, is also adjacent to Chariot's 75% owned Mohammedia Offshore Exploration Permits I-III.
Chariot CEO Larry Bottomley said: "The RD-1 well scheduled to be drilled in early 2018 on Rabat Deep has the potential to further de-risk the hydrocarbon charge system in the Cretaceous play in Kenitra and Mohammedia, which has prospectivity in excess of a billion barrels in which the company holds 75% equity."
In 2014, 3D seismic data was acquired on Mohammedia, with Chariot identifying the LKP group of prospects in the shallow-water clastics in the Lower Cretaceous play, with gross mean prospective resources ranging from 182-350 MMbbl in four prospects, as described in the most recent audit by Netherland Sewell and Associates.
Separately, Chariot has also identified the deep-water turbidite equivalent of these shallow-water clastics in a new large lead, Kenitra-A, which is partially covered by 3D seismic data and has a gross mean prospective resource of 464 MMbbl, as estimated by Chariot.