Chariot Oil & Gas Ltd. signed a memorandum of understanding (MoU) with the Ministry of Industry, Trade and Green and Digital Economy in Morocco related to the Anchois gas development as a potential provider of gas to the Moroccan market.
The parties will progress discussions with the view to signing further agreements with the Ministry or other Moroccan authorities to implement the development.
Chariot, through its subsidiary Chariot Oil & Gas Holdings (Morocco) Ltd., holds 75% interest and operatorship of the Lixus offshore license, Morocco (OGJ Online, Apr. 3, 2019). The National Office of Hydrocarbons and Mines holds the remaining 25%.
The license, on the Atlantic coast of Morocco just south of Spain, contains the Anchois gas discovery with audited total contingent and prospective resource of more than 1 tcf. The sampled gas is 97% methane, without impurities, and is held in high quality porous and permeable sandstone reservoirs.
The development plan from a pre-FEED study consists of two subsea wells tied into a subsea manifold with a 40-km offshore flowline connected to an onshore gas processing plant, from which a 40-km pipeline connects to the trunk pipeline to Europe allowing access to the Moroccan energy market and the European gas market.
In fourth-quarter 2020, expression of interest letters to debt finance the development were received from African Finance Corp. and a multinational investment bank.
In February, a collaboration agreement was signed with Subsea Integration Alliance to enable the front-end design, engineering, procurement, construction, installation and operation of the Anchois Gas Development.
