Chariot Oil & Gas Discovers Promising Gas Reserves in Northern Morocco

Chariot Oil & Gas, a UK-based energy explorer, has achieved a significant breakthrough with the discovery of substantial natural gas reserves in the Dartois field, situated in northern Morocco. The company's assessment indicates an impressive 12 billion cubic feet (Bcf) of gas reserves, marking a pivotal moment in Morocco's quest for energy self-sufficiency and resource diversification.

This promising development stems from the successful drilling of the OBA-1 well by Chariot, as part of its ambitious exploration campaign in the region. Duncan Wallace, Chariot's technical director, expressed great enthusiasm about the operation's outcomes and hinted at the potential for further discoveries in the offing.

"The OBA-1 well has confirmed our hypotheses regarding the promising reserves in this locality," Wallace affirmed. "We are currently investigating additional independent prospects adjacent to the existing Dartois gas finds and eagerly await further updates on our progress in the coming weeks."

Chariot's momentum extends beyond this milestone. Recently, the company announced the success of its drilling operation at the RZK-1 well, located in the neighboring Gaufrette prospect. This well reached its target depth of 961 meters, bolstering Chariot's confidence in the region's resource potential.

These wells are part of a two-well drilling campaign covered under the Loukos Onshore license, jointly held by Chariot (30% stake), Energean (45% stake), and Morocco's state mineral resources firm ONHYM (25% stake). The license area encompasses a vast 1,794 square kilometers in northern Morocco, inclusive of the coveted Anchois gas field, situated approximately 100 kilometers north of Nador. Chariot's estimates suggest that this field alone could harbor an astonishing 1.4 trillion cubic feet of natural gas reserves.

Leveraging advanced capture techniques, Chariot's studies have meticulously mapped the subsurface structures at Gaufrette and OBA-1. Wallace disclosed the company's keen anticipation of drilling next at the Dartois well, which targets a distinct reservoir system compared to Gaufrette, potentially hosting an additional 20 Bcf of recoverable prospective resources.

Since commencing gas exploration activities in Morocco in 2018, Chariot has steadily deepened its understanding of the region's resource potential, with the Dartois field initially identified as promising in 2019. These recent discoveries underscore Morocco's strategic drive to diversify its energy mix and diminish dependence on imported fuels, aligning with the nation's long-term economic and sustainability objectives.