AfrOil: Energean in deal with Chariot for two licences offshore Morocco

London-based Energean signed partnership agreements worth around $110mn (€102.2mn) with energy group Chariot to support the operations of two offshore licences in Morocco.

The partnership aims to expand operations and undertake exploratory initiatives in the Moroccan offshore region. Both Energean and Chariot will work on drilling a well in the east of the Anchois field, and a gas flow test in 2024.

As per the agreement terms, Energean will secure a 45% interest in the Lixus licence, home to the 18bn cubic metre Anchois gas development project, and a 37.5% stake in the Rissana licence.

Chariot will retain a 30% and 37.5% interest in Lixus and Rissana respectively. Morocco’s state-owned utility National Hydrocarbons and Mining Office (ONHYM) will maintain a 25% stake in each licence. Energean retains the right to acquire an additional 10% of Chariot’s equity in the Lixus licence for $850mn gross development carried to the first gas.