Chariot gains new prospective permit offshore Morocco

Morocco’s government has awarded Chariot Oil & Gas a 75% operated interest in the Kenitra offshore exploration permit.

Offshore staff

LONDON – Morocco’s government has awarded Chariot Oil & Gas a 75% operated interest in the Kenitra offshore exploration permit.

State-owned Office National des Hydrocarbures et des Mines holds a 25% carried interest.

Kenitra covers an area of around 1,400 sq km (540 sq mi) in water depths ranging from 200-1,500 m (656-4,921 ft). It was formerly part of theRabat Deep offshore exploration permits I-VI in which Chariot now has a 10% interest and a capped carry on the RD-1 well, likely to be drilled early next year.

This acreage was recently relinquished, as required under the Moroccan Hydrocarbon Code, following entry into the current license period of Rabat Deep.

Kenitra is also adjacent to theMohammedia offshore exploration permits I-III, in which Chariot has a 75% operating stake.

Following analysis of 3D seismic data acquired in 2014 on Mohammedia, the company identified the LKP group of prospects in shallow-water clastics in the Lower Cretaceous. Consultants Netherland Sewell and Associates recently estimated gross mean prospective resources in the range of 182-350 MMbbl in four prospects.

Chariot has also identified the deepwater turbidite equivalent of these shallow-water clastics in a new large lead, Kenitra-A, partly covered by 3D data, with a prospective resource of 464 MMbbl.

All the prospects and leads are said to have Class III AVO seismic attributes that support the presence of hydrocarbons: the RD-1 well could further de-risk these targets.

Polarcus has started seismic acquisition over both Mohammedia and Kenitra, which will fulfil the work commitment for the current phase of both licenses.

02/16/2017

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