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Rabat – Energy-focused British group Chariot announced today the completion of drilling operations under the Lixus offshore license near Lareche, Morocco, according to a company press release.
Anchois-1, one of the two exploratory wells drilled under the contract, Anchois-1, originally began drilling in 2009 is now linked to the Stena Don rig. The Anchois-1is prepared for future producing operations, specifies the press release.
The Anchois 2 remains in the initial inspection phase with samples under laboratory review, while Anchois-1 proved more productive to drill right away.
However, the well is 100 meters deep, making it a potential future production well as field development operations continue.
Chariot holds a 75% stake in the drilling operations, while Morocco’s National Hydrocarbons and Mines Office ONYHM holds 25%.
Morocco’s ONYHM Director, Amina Benkhadra had announced in mid-January 2022 that the wells covered by the Luxis License should be ready for production by 2024.
The public official told Moroccan television channel SNRT that the significant gas discovery at the Anchois-1 and Anchois-2 wells in its early phase can cover the needs of one of Morocco’s largest industrial zones in Kenitra, as well as several electricity grids across the country.
Read Also: Lareche Offshore Gas Production to Commence in 2024
News of Chariot’s gas discovery offshore Lareche drove up the company’s share value by 48% on January 11.
“My congratulations to Chariot and ONHYM teams for the successful Anchois drilling operations,” commented Benkhadra on the backdrop of the completion of the exploratory wells.
She further highlighted the role Moroccan authorities undertook in facilitating the drilling operations in spite of the COVID-19 induced restrictions.
Adonis Pouroulis, Chariot‘s acting CEO said that the successful operations mean that the company’s Lexus license has been successfully de-risked.
The company official further expressed the company’s plans to bring the wells online as soon as possible to meet Morocco’s energy needs and to guarantee a short-term cash flow for the company.
The energy-focused group counts on gas as a ‘transitional’ fuel on the path to a greener future. The company has multiple green projects underway, including a green hydrogen project in Mauritania. The company is expected to close the deal in 2022.
