Chariot Oil & Gas Morocco has obtained a new license to explore the offshore Lixus Offshore license off Larache. The company has a stake of 75% against 25% for the National Office of hydrocarbons and mines (ONHYM). The “Lixus Offshore” permit is located 30 km north of Chariot Oil’s existing exploration area. It covers an area of 2,390 km² and houses the Anchovy-1 well where gas had already been discovered.
Nearly 200 billion cubic feet (Bcf) of gas have been identified through legacy 3D seismic data. Lixus Offshore could also have additional resources estimated at 527 billion cubic feet of gas (bcf), according to Chariot Oil. This license is a breath of fresh air for the company after the failure recorded in Namibia in its surveys in Namibia.