LONDON – Eni has agreed to acquire a 40% operated interest from Chariot Oil & Gas in Morocco’s Rabat Deep Offshore license area.
This is 30 km (18.6 mi) offshore in water depths of 150-3,500 m (492-11,483 ft).
In return Eni will guarantee a capped carry to Chariot on drilling the JP-1 prospect, and will also carry the company for other geological and administrative costs relating to work commitments in the next licence period of Rabat Deep.
Subject to approval by the Moroccan authorities Eni will have a 40% interest in partnership with Woodside (25%), Chariot (10%), and Office National des Hydrocarbures et des Mines (25% carried interest).
The partners identified JP-1, following detailed processing and interpretation of 3D seismic, as a large, four-way dip closed structure extending more than 200 sq km (77 sq mi), with Jurassic carbonate primary reservoir objectives.
Consultant Netherland Sewell and Associates estimates gross mean prospective resources of 768 MMbbl for JP-1, which is adjacent to a source kitchen modeled to be oil generating.
Elsewhere in the license area there are additional prospects and leads within the Jurassic fairway – a success at JP-1 would de-risk these targets and provide follow-on exploration potential both in Rabat Deep and the neighboringMohammedia permit which Chariot operates with 75% interest.
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