Chariot Oil & Gas, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco), has been awarded a 75% interest and operatorship of the Mohammedia Reconnaissance Licence offshore Morocco. This is in partnership with the Office National des Hydrocarbures et des Mines (ONHYM), which holds a 25% carried interest. This licence area is adjacent to the company’s Loukos and Rabat Deep licences and sits in the near shore. It covers an area of approximately 4,600km2 with water depths less than 500m. The award remains subject to final approval from the relevant authorities.
The company has also contracted Dolphin Geophysical AS to carry out a single 3D seismic programme of approximately 1,700km2 across all three of its Moroccan licence areas using the Sanco Swift vessel, due to commence early April 2014. The objective of the combined survey is to mature drillable prospects in the Mio-Pliocene and Jurassic plays.
Following governmental approval of the Mohammedia Reconnaissance Licence award and the company’s application to enter into the First Renewal Phase in Loukos, Chariot will hold approx. 1,155km2 in the Loukos licence, with its total offshore Morocco acreage standing at just over 16,500km2.
