Gas: Chariot Announces Completion of Drilling Operations (Statement)

Casablanca – Chariot, a company focused on energy transition in Africa, has announced the completion of successful gas drilling operations on the Anchois gas project within the “Lixus” license, offshore Morocco.

Anchois-1, the original discovery well drilled in 2009, was efficiently located and the wellhead was inspected, prepared and successfully coupled with the Stena Don rig confirming its potential viability as a future producer well, Chariot said in a statement.

To maintain efficiency a decision was taken to not take a Sand A gas sample in the Anchois-1 well as gas samples were successfully obtained in the previously drilled Anchois-2 well, the same source added.

Anchois-1 operations will now complete with the well in a condition to allow for potential utilisation in the future development of the field, the British company noted.

Anchois-2 well, drilled just prior to the Anchois-1 well operation and successful in its appraisal and exploration objectives with over 100m of net pay, has already been safely and efficiently suspended for potential completion as a production well in the future development of the field.

Extensive data recovered from the multiple gas discoveries in the Anchois-2 well, including from a comprehensive sub-surface formation testing programme, which recovered twelve gas samples across seven gas bearing reservoirs, which are currently enroute to the laboratory for detailed analysis, according to Chariot, adding that Stena Don rig will begin demobilisation from the well sites imminently.

Adonis Pouroulis, Acting CEO of Chariot, commented: “I am pleased to announce the completion of our very successful Anchois gas appraisal and exploration campaign, offshore Morocco. In addition to having now two confirmed gas discovery wells, we have directly de-risked a material portfolio of prospects on the Lixus licence area”.

“Our ambition is to bring the Anchois gas development online as quickly as possible, to fuel Morocco’s economic growth, but also to deliver near-term cash flows to the Company,” he added, quoted in the statement.

“We will now look to conduct further analysis on our findings, to optimise our development plan for the field, with both wells earmarked to become potential production wells, as part of an accelerated field development plan for the benefit of all stakeholders,” stressed Pouroulis.

For her part, Amina Benkhadra, General Director Office National des Hydrocarbures et des Mines, said: “My congratulations to Chariot and ONHYM teams for the successful Anchois drilling operations. I also would like to thank the Moroccan authorities for their support and help in achieving the drilling operations efficiently despite the Covid-19 pandemic restrictions.”

“We look forward to working with Chariot in order to quickly progress the gas development,” she added.

Chariot has a 75% interest and operatorship of Lixus in partnership with the Office National des Hydrocarbures et des Mines (“ONHYM”) which holds a 25% interest.