Latest news with #Lixus
Yahoo
15-05-2025
- Business
- Yahoo
Chariot regains 75% interest in two Moroccan offshore licences
Chariot, the Africa-focused transitional energy group, has regained operatorship and a 75% working interest in the Lixus Offshore and Rissana Offshore licences in Morocco. This development comes after Energean completed the transfer of its subsidiary, which held a 45% and 37.5% interest in the respective licences. The Anchois gas field, situated within the Lixus Offshore licence, has seen three wells drilled to date. The completion of the Anchois-3 well in September 2024 did not yield the additional volumes anticipated for the expansion of the Anchois development. However, the appraisal revealed multiple high-quality gas-bearing reservoirs. With the operatorship now restored, Chariot is set to advance the licence work programmes in collaboration with ONHYM, the national hydrocarbons and mines office of Morocco, which retains a 25% stake. The partnership will re-evaluate and adjust the Anchois development plan in line with the resources discovered. Chariot CEO Adonis Pouroulis said: 'We are pleased to have completed the transfer of these licences and regained operatorship as we see material value within our diversified Moroccan position, both offshore and onshore. 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 underpinned by our previous work on engineering design, environmental and regulatory approvals, project financing and gas sales. 'Gas market fundamentals in Morocco are robust with strong gas demand and excellent fiscal terms and we will look to work with all stakeholders, including our partner ONHYM and the Ministry of Energy Transition and Sustainable Development, to advance these important domestic projects.' Chariot's commitment extends to exploring the further potential of the Lixus and Rissana licence areas, with updates to be provided as progress is made. Additionally, Energean has terminated its divestment agreement with Carlyle International Energy Partners. The cancellation, announced in March, was due to unmet regulatory approvals in Italy and Egypt. The initial deal, which included Energean's assets in Egypt, Italy and Croatia, was valued at up to $945m (£729.33m). According to Energean, the necessary regulatory approvals outlined in the sale and purchase agreement, signed on 19 June 2024, were not obtained or waived, leading to the termination of the agreement. "Chariot regains 75% interest in two Moroccan offshore licences" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Ya Biladi
14-05-2025
- Business
- Ya Biladi
Chariot regains operatorship of Moroccan offshore licences from Energean
Chariot Limited, an Africa-focused energy group, announced on Wednesday, May 14, that it has regained control of its Moroccan offshore interests. Energean plc, a London-based oil and gas company, transferred its 45% stake in the Lixus Offshore and 37.5% stake in the Rissana Offshore licences to Chariot. As a result, Chariot now holds a 75% working interest in both licences, with Morocco's Office National des Hydrocarbures et des Mines (ONHYM) retaining 25%. This transfer follows a 2023 agreement in which Chariot sold the same stakes in both licences to Energean. At that time, Chariot retained a 30% interest in Lixus and 37.5% in Rissana, while ONHYM maintained a 25% stake in both. Now that operatorship has been restored, Chariot is committed to working with ONHYM to refine the development plan and explore further potential in the Lixus and Rissana areas, reads a press release. «We are pleased to have completed the transfer and regained operatorship, as we see significant value in our diversified Moroccan position, both offshore and onshore», said CEO Adonis Pouroulis. It is worth noting that Chariot works on high-value gas development in Morocco, alongside renewable power and green hydrogen projects across Africa.
