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Chariot Oil & Gas obtains an offshore license in Morocco

Chariot Oil & Gas officially obtained the Rissana offshore license in Morocco after agreeing key terms of the contract in December 2020. The formal award of the license was subject to normal Moroccan regulatory procedures and approvals.

Chariot will hold a 75% stake and operate the Rissana permit, in partnership with the Moroccan National Hydrocarbons and Mines Office (ONHYM), which will hold a 25% stake.

The director of Chariot Maroc, Pierre Raillard, and the director general of the Moroccan National Office of Hydrocarbons and Mines (ONHYM), Amina Benkhadra, signed the agreement, according to the press release.

Benkhadra said: “We are delighted to officially award Chariot the Rissana license offshore Morocco,” adding: “ONHYM and Chariot have recently conducted a very successful drilling in Morocco and we hope we will be able to have similar success on Rissana”.

Chariot CEO Adonis Pouroulis also said, “We are delighted to have officially obtained the Rissana license.”

“As we have demonstrated with our recent successful drilling campaign at Anchois, this is a very promising basin, with the Lixus Offshore license award from Rissana ensures that we have captured the exploration benefits in this exciting game,” he added.

Chariot’s CEO also said, alongside the Anchois gas field development plans, “we aim to maximize the value of exploration benefits in what we believe to be a low risk, high value opportunity”.

Rissana covers an area of ​​approximately 8,489 km², surrounding the offshore area of ​​Chariot’s (Lixus) existing Lixus offshore license, where the company in January 2022 announced the conclusion of successful drilling operations on the field of Anchovies, including important new gas discoveries.

A minimum initial license commitment has been set for the acquisition of a 2D seismic survey, which will help assess the extent and potential of these gas deposits across Rissana, the press release said.

Chariot is a UK-based oil and gas exploration company, operating in Morocco, in partnership with ONHYM to explore new sources of gas and oil across the country.

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