Chariot Advances Moroccan Gas Ambitions with Anchois Drilling

Wednesday 21 August 2024 - 11:15

Chariot Limited, a prominent energy firm focused on Africa, has embarked on a significant drilling operation at its Anchois gas project situated off the Moroccan coast. The arrival of the Stena Forth drillship marks the commencement of this high-stakes venture.

The operation at the Anchois-3 well is meticulously structured into several phases. Initially, a pilot hole will be drilled to explore the potential of the Anchois Footwall prospect, an uncharted area estimated to contain 170 billion cubic feet of resources. Following this, a side-track will assess the known gas sands within the Anchois field, boasting a substantial 2C Contingent Resource estimate of 637 billion cubic feet.

The exploration extends further to the Anchois North Flank prospect, which holds a 2U Prospective Resource estimate of 213 billion cubic feet. This phase aims to mitigate risks associated with the adjacent Anchois South Flank prospect, estimated at 372 billion cubic feet.

Adonis Pouroulis, CEO of Chariot, expressed enthusiasm about the project's potential, stating, "We are very pleased to commence this highly anticipated well at the Anchois gas field. We see significant upside potential and value from the prospective resources in the pilot hole and main hole targets which could increase the resource base to over 1 trillion cubic feet."

Post-drilling, well flow tests will assess reservoir productivity, with the well being suspended for potential future production. The entire drilling and testing process is projected to span approximately two months, with Chariot covering the anticipated costs.

Pouroulis conveyed optimism about swiftly progressing towards a Final Investment Decision, highlighting the project's capacity to enhance Chariot's resource base significantly.

Chariot's strategic focus on Africa encompasses Transitional Gas, Transitional Power, and Green Hydrogen. By tapping into Morocco's expanding economy, the company aims to drive both gas development and renewable energy initiatives.

The successful advancement of the Anchois gas field is poised to elevate Chariot's standing in Morocco's energy landscape and bolster the nation's energy autonomy.