Rabat – London-based energy company, Chariot, has officially announced commencing drilling operations at the Loukos Onshore license in Morocco.
In a statement last week, the company details that it has initiated drilling with the spud of the RZK-1 well on the Gaufrette prospect.
Commenting on the news, Duncan Wallace, Technical Director of Chariot, expressed enthusiasm about the venture. “We are very pleased to commence this onshore campaign, kicking off the first of our exciting drilling operations for Chariot this year,” he said.
Wallace also extended appreciation to the operational team for their dedication to getting the drilling underway within ten months of the license award.
In addition, he acknowledged the National Agency for Hydrocarbons (ONHYM) for their unwavering support and partnership throughout the process.
The company operates with a 75% stake alongside the national hydrocarbons ONHYM holding 25%.
The news comes close to a month after the company announced forging a partnership agreement with Energean PLC group for the development of its assets in Morocco.
Under these agreements, Energean holds 45% and 37.5% of the respective interests in and is the operator of the Lixus and Rissana licenses offshore Morocco.
Chariot retains 30% and 37.5% of the respective interests in these licenses, with ONHYM maintaining a 25% stake in each.
In addition, Chariot has received the $10 million upfront cash consideration from Energean.
In tandem with these agreements, Chariot has signed a rig contract with Stena Drilling for the use of its Stena Forth drillship.
The contract is intended for the Anchois-East appraisal and development well in northern Morocco, along with an optional well, located within the Lixus license.
The drilling and testing campaign, scheduled for Q3 2024, aims to further appraise the existing gas sands, including flow testing, and targeting undrilled prospective resources to potentially increase the Anchois gas development to over 1 trillion cubic feet (Tcf).
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