Chariot Regains Operatorship of Moroccan Offshore Licenses from Energean

Chariot, an Africa-focused energy company, has reaffirmed its belief in the gas potential of its assets by retaking the operator role at two Moroccan offshore licenses previously held by London-based oil and gas player Energean.

Initially, partnership agreements were signed in 2023 for the Lixus offshore license, which includes the Anchois gas field, and the Rissana offshore license in Morocco. Energean acquired a 45% interest in Lixus and a 37.5% stake in Rissana, assuming operatorship of both licenses. Chariot was left with a 30% and 37.5% interest in Lixus and Rissana, respectively, with the National Office of Hydrocarbons and Mines (ONHYM) retaining a 25% stake in each license.

Recently, Chariot has completed the transfer of Energean’s wholly owned subsidiary holding stakes in these offshore licenses, enabling the company to regain operatorship. As a result, Chariot now holds a 75% working interest in each license, with ONHYM maintaining its 25% stake.

Three wells have been drilled at the Anchois gas field in the Lixus offshore license, with the most recent drilling conducted by Stena Drilling’s Stena Forth drillship.

Adonis Pouroulis, CEO of Chariot, expressed his satisfaction with the transfer, stating, “We are pleased to have completed the transfer of these licenses and regained operatorship as we see material value within our diversified Moroccan position, both offshore and onshore.”

The Anchois-3 well, completed in September 2024, revealed multiple good-quality gas-bearing reservoirs in the main B sand appraisal interval. While the well did not deliver the expected additional volumes for an expansion of the Anchois development, Chariot remains committed to assessing and adapting the development plan based on discovered resources in collaboration with ONHYM.

Pouroulis emphasized Chariot’s dedication to evaluating the broader potential of the Lixus and Rissana license areas, stating, “The Anchois gas discovery still offers the potential for a rescaled development, and our next steps are to scope this based on the core resources found in the three wells.”

With a focus on progressing the license work programs, Chariot aims to work with all stakeholders, including ONHYM and the Ministry of Energy Transition and Sustainable Development, to advance these crucial domestic projects in Morocco’s robust gas market.