Chariot Oil & Gas has negotiated the terms of a new license in Morocco, Rissana Offshore. The official licensing is expected to take place in 2021.
The new license is currently subject to Moroccan regulatory procedures and approvals, announces a statement from the British company.
Thus, 75% of the interest and exploitation of the new license are allocated to a company wholly owned by Chariot, in partnership with Onhym, which holds the 25%.
Rissana will surround the offshore boundaries of Chariot’s existing Lixus license. It will also cover the most promising northern areas of the Mohammedia offshore license and the Kenitra offshore license, said the same source.
“While 2020 has been a difficult year for many, Chariot is coming out of 2020 in a strong position. With the expected official award of the Rissana license scheduled for 2021, we have shown Chariot’s strong commitment to the Anchovy Morocco project,” commented Adonis Pouroulis CEO of the oil company.