Chariot regains 75% interest in two Moroccan offshore licences

Chariot, the Africa-focused transitional energy group, has regained operatorship and a 75% working interest in the Lixus Offshore and Rissana Offshore licences in Morocco.
This development comes after Energean completed the transfer of its subsidiary, which held a 45% and 37.5% interest in the respective licences.
The Anchois gas field, situated within the Lixus Offshore licence, has seen three wells drilled to date.
The completion of the Anchois-3 well in September 2024 did not yield the additional volumes anticipated for the expansion of the Anchois development. However, the appraisal revealed multiple high-quality gas-bearing reservoirs.
With the operatorship now restored, Chariot is set to advance the licence work programmes in collaboration with ONHYM, the national hydrocarbons and mines office of Morocco, which retains a 25% stake.
The partnership will re-evaluate and adjust the Anchois development plan in line with the resources discovered.
Chariot CEO Adonis Pouroulis said: 'We are pleased to have completed the transfer of these licences and regained operatorship as we see material value within our diversified Moroccan position, both offshore and onshore. The Anchois gas discovery still offers the potential for a rescaled development and our next steps are to scope this based on the core resources found in the three wells underpinned by our previous work on engineering design, environmental and regulatory approvals, project financing and gas sales.
'Gas market fundamentals in Morocco are robust with strong gas demand and excellent fiscal terms and we will look to work with all stakeholders, including our partner ONHYM and the Ministry of Energy Transition and Sustainable Development, to advance these important domestic projects.'
Chariot's commitment extends to exploring the further potential of the Lixus and Rissana licence areas, with updates to be provided as progress is made.
Additionally, Energean has terminated its divestment agreement with Carlyle International Energy Partners.
The cancellation, announced in March, was due to unmet regulatory approvals in Italy and Egypt. The initial deal, which included Energean's assets in Egypt, Italy and Croatia, was valued at up to $945m (£729.33m).
According to Energean, the necessary regulatory approvals outlined in the sale and purchase agreement, signed on 19 June 2024, were not obtained or waived, leading to the termination of the agreement.
"Chariot regains 75% interest in two Moroccan offshore licences" was originally created and published by Offshore Technology, a GlobalData owned brand.
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