Chariot Commences Drilling of OBA-1 Well in Northern Morocco

Tuesday 21 May 2024 - 11:10

British energy firm Chariot is expanding its exploration efforts by initiating drilling operations for the OBA-1 well in northern Morocco. This latest endeavor signifies a significant milestone in the company's ongoing campaign to uncover new energy resources in the region.

The OBA-1 well targets the Dartois prospect, an area estimated to hold a substantial 12 billion cubic feet (Bcf) of recoverable prospective resources, according to Chariot's projections. Should this well prove successful, it could potentially unlock a series of similar prospects, collectively estimated to contain an impressive 20 Bcf of recoverable resources.

Expressing confidence in the new drilling operation, Chariot's Technical Director, Duncan Wallace, stated, "We are delighted to be underway with our second well in this drilling campaign, having spudded the OBA-1 well shortly after completing operations at Gaufrette." He further explained that the company is currently testing an independent prospect at Dartois, which lies in a different reservoir fairway and along the trend from an existing gas discovery. Wallace added, "We eagerly anticipate providing an update on the results in due course."

Chariot holds a 75% operating stake in the Loukos Onshore license, while the Office National des Hydrocarbures et des Mines (ONHYM) maintains the remaining 25% interest. The company's statement indicates that the results of the OBA-1 well will be announced upon the completion of drilling, as the firm remains optimistic about the prospect's potential to significantly enhance its resource base in Morocco.

In addition to the Loukos Onshore license, Chariot's portfolio in Morocco includes a 30% interest in the Lixus Offshore license, with Energean holding a 45% stake and ONHYM retaining 25%. This license covers an area of approximately 1,794 square kilometers, with water depths ranging from the coastline to 850 meters.

As Chariot embarks on this new drilling venture, the energy sector eagerly awaits the results, which could potentially reshape the region's energy landscape and contribute to Morocco's ongoing efforts to diversify its energy sources.