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Chariot awarded licence offshore Morocco

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Oilfield Technology,

Chariot has been formally awarded the Rissana offshore licence in Morocco.

A 75% interest and operatorship of the Rissana licence has been awarded to a subsidiary of Chariot in partnership with the Office National des Hydrocarbures et des Mines (ONHYM), which will hold a 25% interest.

Rissana (approximate area 8489 km2) surrounds the offshore area of Chariot's existing Lixus offshore licence, where the company announced in January 2022 the conclusion of successful drilling operations at the Anchois field, including significant new gas discoveries.

The initial minimum licence commitment is the acquisition of a 2D seismic survey, which will help to evaluate the extension and potential of these gas plays across Rissana.

Amina Benkhadra, General Director of ONHYM, commented: "We are pleased to formally award Chariot the Rissana licence, offshore Morocco. ONHYM and Chariot recently conducted a highly successful drilling campaign in Morocco and we hope that we will be able to have similar success on Rissana.”

Adonis Pouroulis, acting Chariot CEO, commented: "We are delighted to have been formally awarded the Rissana licence. As we demonstrated with our recent successful drilling campaign at Anchois, this is a highly prospective basin and, along with the Lixus Offshore Licence, the award of Rissana ensures that we have captured the exploration upsides in this exciting play. In parallel with the development plans on the Anchois gas field, we aim to maximise value from the exploration upsides in what we believe is a low risk and high value opportunity.”

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