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Rabat – Chariot, an Africa-focused transitional energy company, is joining forces with petroleum company Vivo Energy to establish a midstream joint venture that will oversee the distribution of natural gas to industrial customers in Morocco.
According to a joint press release issued today, the two energy companies will launch a gas-to-industry business in Morocco through the development of marketing and commercialization of natural gas to industrial customers.
The two companies will establish a jointly owned special purpose vehicle for the purchase, transportation, and distribution of natural gas to end-users.
As part of the partnership agreement, Vivo Energy and Chariot will put in place a long-term gas sales agreement for a portion of the future gas production from the Anchois development project.
Commenting on the partnership, Chariot CEO Adonis Pouroulis said, “We are delighted to be partnering with Vivo Energy, a company which has an extensive footprint in Morocco and the African continent, to develop and deliver a long-term supply of natural gas across the rapidly growing industrial sector in the country.”
Read Also: Chariot Completes Engineering, Design for Morocco’s Offshore Gas Project
Pouroulis highlighted that this collaboration will meet Morocco’s large industrial gas demand, notably by strengthening the Anchois project’s commercial viability.
Chariot CEO noted that this agreement confirms Chariot’s priority for the Moroccan energy market and expands on other existing sales negotiations around future offtakes for the gas from the Anchois gas field.
Echoing Pouroulis’s statement, Chariot Morocco Managing Director Pierre Raillard, said that “partnering with Vivo Energy to deliver this gas to industry creates additional scope for the future production from Anchois.”
Raillard noted that a key part of Chariot’s strategy in Morocco is to to promote energy self-sufficiency and be a catalyst for growth. “We are very pleased to be working together to deliver this important domestic resource directly into the country’s gas-hungry industrial sector,” he explained.
Developing Morocco’s local gas market
Chariot is an Africa-focused transitional energy group with three business streams, Transitional Gas,Transitional Power, and Green Hydrogen.
In 2021, the energy group signed a memorandum of understanding with Morocco to become a local gas supplier and develop the offshore Anchois gas field located near the northern Moroccan city of Larache.
Earlier this year, the British energy company announced that it had completed the “Front-End Engineering Design” (FEED) for its flagship Anchois offshore gas project in Morocco.
The FEED aims to evaluate the project’s costs and thoroughly plan before submitting a bid.
Chariot Limited owns 75% of the drilling operations in the Anchois-1 and Anchois-2 offshore wells, with Morocco’s National Hydrocarbons and Mining Office (ONHYM) owning the remaining 25%.
