Chariot finds partner for Moroccan gas find
London-listed company Chariot has signed a memorandum of understanding (MoU) with "a leading international energy group" on gas offtake and a development partnership for the Anchois gas discovery off Morocco, it said on October 28.
The deal covers the future sale of 40mn ft3/day of gas for a period of up to 20 years on a take-or-pay basis. The two sides will look to finalise their partnership and take a final investment decision on Anchois in 2022, targeting first gas in 2024, Chariot said.
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"Ahead of our highly anticipated Anchois gas appraisal well in December I am very pleased to announce this MoU on gas sales and partnering," Chariot's acting CEO Adonis Pouroulis said. "Along with the recent high international gas prices, this agreement clearly demonstrates that there is significant demand to underpin the Anchois gas development."
The Anchois discovery holds over 1 trillion ft3 of contingent and prospective gas resources with a methane concentration of 97% located in high-quality reservoirs. Chariot has a 75% interest in the Lixus licence containing the find while ONHYM has 25%. Chariot has also looked at options for sending the field's gas to Spain as well as Morocco.