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.
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.