Chariot, the London-based energy company, has just announced the start of drilling operations at the Loukos Onshore license in Morocco. The campaign begins with the RZK-1 well on the Gaufrette prospect, marking the start of Chariot’s exploration activities this year.

Technical Director Duncan Wallace stated, “We are very pleased to commence this onshore campaign, kicking off the first of our exciting drilling operations for Chariot this year.” Wallace expressed gratitude for the operational team’s commitment to achieving this milestone within ten months of obtaining the license and extended appreciation to the National Agency for Hydrocarbons (ONHYM) for their unwavering support.

Chariot, with a 75% stake in the license, partners with ONHYM, which holds a 25% interest. This development follows Chariot’s recent partnership with Energean PLC, under which Energean operates the Lixus and Rissana offshore licenses. Energean maintains a 45% and 37.5% stake in each, respectively, while Chariot holds 30% and 37.5%, and ONHYM retains 25% in both.

To advance the venture, Chariot has secured a $10 million upfront cash consideration from Energean and signed a rig contract with Stena Drilling for the use of its Stena Forth drillship. The drillship will appraise and develop the Anchois-East well within the Lixus license, aiming to tap into over 1 trillion cubic feet (Tcf) of gas resources.

This promising drilling and testing campaign, set for Q3 2024, will assess existing gas sands, conduct flow testing, and explore prospective resources to expand the Anchois gas development.

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