Chariot signs deal with Energean on Moroccan offshore

Transitional energy group Chariot has signed a partnership agreement with London-based energy firm Energean PLC on the Lixus Offshor licence and on the Rissana Offshore licence in Morocco, the company said in a statement this week.

The agreement will help provide funding for Chariot and upscale the development in the Lixus and Rissana licences. The two companies have also agreed to drill a further well, in the east of the Anchois field and conduct a gas flow test in 2024, expand the existing offshore development plan, and finalize ongoing gas sales negotiations with focus on meeting Moroccan energy needs.

The deal allows Energean to acquire 45% and 37.5% interests in the Lixus and Rissana licences respectively, and take operatorship of both licences, the statement read. «Chariot will retain a 30% and 37.5% interest in Lixus and Rissana respectively, with ONHYM maintaining a 25% stake in each licence».

«This agreement is pivotal for the wider acreage offshore Morocco, on its Atlantic coast, a key energy asset for the Kingdom. We welcome Energean on these licences as the important investments will contribute greatly to the monetisation of the country's resources and to our ambitious energy strategy», said Minister of Energy Transition and Sustainable Development Leila Benali.

«We look forward to working with our partners Chariot and ONHYM, and developing an outstanding resource for the benefit of all parties, including Morocco and its people», Mathios Rigas, CEO of Energean commented.

«In Energean, we have secured a partner with a proven track record of rapidly building and delivering this kind of offshore development», Adonis Pouroulis, CEO of Chariot said.