Moroccan authorities have approved the partnership agreement Chariot signed with Energean regarding the interest and operatorship of Lixus and Rissana licences, as Stena Drilling’s Stena Forth drillship gets the job for new appraisal well.
The partnership agreements between Chariot and Energean , unveiled in December 2023, have now fully completed and have received the green light from the Moroccan government.
As part of the deal, Energean now holds 45% and 37.5% of the respective interests in, and is operator of, the Lixus and Rissana licences, offshore Morocco
Chariot has received $10 million upfront cash consideration from Energean as part of the transaction.
In addition, a rig contract has been signed with Stena Drilling for the use of its Stena Forth drill ship 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 the third quarter 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 over 1 Tcf.
“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 the third quarter of 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,” said Adonis Pouroulis, CEO of Chariot.
