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Chariot bet on its operations in Morocco

Chariot Oil & Gas announced that it has started the first discussions with ONEE and the main players in the Spanish gas market with a view to future gas supply agreements. The British company, which exploits the “Lixus offshore” deposit in northern Morocco, claims that the studies undertaken “have demonstrated the technical feasibility and the economic viability of developing the gas market to ensure supply for customers in Morocco and/or in Spain, at a price which guarantees a high return on the capital invested”.

The company estimates that the potential resources for the Lixus license could reach 2.2 Tcf (2,200 billion cubic feet). At the permit level, recoverable gas is estimated at 423 billion cubic feet.

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