Chariot Ignites Moroccan Gas Ambitions with Dartois Well Drilling

Wednesday 22 May 2024 - 17:50

In a pivotal move for Morocco's burgeoning gas exploration landscape, Chariot, a British gas exploration company, has initiated drilling operations at its OBA-1 well located in the Dartois prospect area, part of the Lixus Offshore license. While definitive results are eagerly awaited, Chariot's estimates point to a potential reservoir holding a staggering 20 billion cubic feet of natural gas. Furthermore, the broader Dartois zone itself could yield a colossal find of up to 12 billion cubic feet per day.

Chariot is tackling the second well in its current drilling campaign in Morocco. The company announced the commencement of drilling operations at the OBA-1 well situated within the Dartois license, which spans approximately 1,370 square kilometers between the cities of Kenitra and Larache. Notably, the Dartois license boasts a potential of 12 billion cubic feet per day.

As for the OBA-1 well, the reservoir it could potentially access is estimated to contain up to 20 billion cubic feet of natural gas, according to Chariot's most optimistic projections. The junior company has pledged to unveil definitive results regarding the size of this reservoir upon the completion of drilling operations. "We are pleased to commence drilling our second well in this drilling campaign," remarked Duncan Wallace, Chariot's Technical Director.

It is worth noting that Chariot Energy holds a 75% stake in the Lixus Onshore license, while the National Office of Hydrocarbons and Mines (ONHYM) retains the remaining 25%. The prospect designated as the initial drilling target on this license has been christened "Gaufrette." Drilling operations in this area commenced at the beginning of this month. This reservoir is located upstream of previous gas discoveries, exhibiting similar technical characteristics to those observed in Chariot's successful operations in Morocco. The junior company's estimates suggest a total reservoir size of approximately 26 billion cubic feet of gas in this zone. The wells being drilled or currently underway will provide access to this gas and verify the accuracy of these estimates.

In addition to these two prospects (Gaufrette and Dartois), Chariot also holds interests in the Offshore Lixus and Rissana licenses. Last April, the company secured all necessary governmental and regulatory approvals from the Kingdom of Morocco, enabling it to finalize partnership agreements with the Energean plc Group. Consequently, Energean now holds 45% and 37.5% interests in the Lixus and Rissana licenses, respectively, and serves as the operator. Chariot, on the other hand, retains 30% and 37.5% interests in these licenses, while ONHYM maintains its 25% participation in each. An initial payment of $10 million was made by Energean for this purpose.

As Chariot embarks on this ambitious drilling campaign, Morocco's gas exploration prospects soar, fueled by the potential of the Dartois and Gaufrette reservoirs. The nation's energy landscape stands poised for a transformative chapter, where each drill bit promises to unlock newfound reserves and propel Morocco's energy self-sufficiency aspirations.