Latest news with #LixusOffshore
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.
Morocco World
14-05-2025
- Business
- Morocco World
Chariot Regains Control of Moroccan Offshore Gas Licences After Energean Exit
Mining company Chariot Limited has announced that it has fully regained control of two important offshore gas licenses in Morocco, after Energean plc returned its stake in the projects. Energean transferred its entire interest in the Lixus Offshore and Rissana Offshore licences to Chariot by handing over its local subsidiary. Chariot now owns 75% of both licences and has become the operator once again. The remaining 25% is still held by Morocco's National Office of Hydrocarbons and Mines (ONHYM). One of the key areas in this project is the Anchois gas field, located in the Lixus Offshore licence. So far, three wells have been drilled in the area. The most recent well, Anchois-3, was completed in September 2024. While it did not find enough gas to allow for an expansion of the original development plan, it did confirm the presence of good quality gas in one of the main zones, said Chariot in a press release. With the operatorship back in its hands, Chariot says it will continue to work on developing the gas field, in partnership with ONHYM. The company plans to review and adapt the development plan based on the gas that has already been discovered. Chariot will also explore the larger area around both Lixus and Rissana to assess further gas potential. '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,' said Chariot CEP Adonis Pouroulis. The Anchois gas discovery remains promising for Chariot, and the company is now working to reshape the development plan based on their previous work on engineering design, environmental and regulatory approvals. He added that Morocco has strong demand for gas and offers good financial conditions for energy projects. Chariot plans to keep working closely with ONHYM and the Ministry of Energy Transition to move these gas projects forward. Tags: chariotChariot Oil and gasMining
