Cairn entry to block offshore Mauritania approved

Mauritania’s government has approved Chariot Oil & Gas’ farm-out agreement with Cairn subsidiary Capricorn Mauritania for offshore license C19.

Offshore staff

LONDON – Mauritania’s government has approved Chariot Oil & Gas’ farm-out agreement with Cairn subsidiary Capricorn Mauritania for offshore license C19.

Chariot now has a 55% operated stake, with Cairn owning 35% and Société Mauritanienne des a 10% carried interest. Cairn has committed to pay $26 million to Chariot for 3D seismic and other back costs.

Following interpretation of pre-stack depth migration, the partners will start evaluating drilling options.

10/14/2013

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