Casablanca – British energy company Chariot Oil & Gas is making significant strides in its gas exploration efforts in northern Morocco, highlighting the region’s potential for substantial energy production. The company recently announced the start of its second drilling phase within the Loukos Onshore permit, following a mix of successes and challenges in its initial operations.
Dartois prospect: a new opportunity
Chariot’s latest drilling target is the Dartois prospect, estimated to hold 12 billion cubic feet (Bcf) of recoverable gas resources. This follows the mixed results from the RZK-1 well at the Gaufrette prospect, which, despite reaching the planned depth of 961 meters, encountered high water content, making it economically unviable.
However, Chariot remains optimistic about Dartois, which features a different geological trapping style than Gaufrette. Success in Dartois could potentially unlock a series of prospects with combined recoverable resources estimated at 20 Bcf, significantly enhancing the region’s gas potential.
“We are pleased to begin drilling our second well in this campaign after completing operations at Gaufrette,” said Duncan Wallace, Chariot’s Technical Director. “We are currently testing an independent prospect at Dartois, located in a different reservoir channel and aligned with an existing gas discovery. We look forward to updating on the results in due course.”
Strategic partnerships and expansion
Chariot holds a 75% stake in the Loukos Onshore permit, which spans approximately 1,371 square kilometers between Kenitra and Larache. The remaining 25% is held by Morocco’s Office National des Hydrocarbures et des Mines (ONHYM), underscoring a robust partnership aimed at tapping Morocco’s gas potential.
Moreover, Chariot has substantial interests in offshore licenses, including Lixus and Rissana. The Lixus license, which encompasses the significant Anchois gas discovery, covers about 1,794 square kilometers. Energean holds a 45% stake in Lixus and 37.5% in Rissana, with Chariot maintaining 30% and 37.5% stakes in these licenses, respectively, and ONHYM retaining 25%.
Environmental and regulatory approvals
Chariot’s exploration efforts are supported by strong environmental and regulatory backing. In February 2024, the company received approval for its Environmental Impact Assessment (EIA) from the Regional Unified Investment Commission. This approval covers up to 20 wells in the Loukos Onshore area and is valid for five years, ensuring that Chariot’s operations adhere to rigorous environmental standards and demonstrating its commitment to sustainable development.
A vision for energy security
These discoveries and ongoing explorations align with Morocco’s strategic goals to diversify its energy sources and reduce dependency on imports. The Anchois gas field alone holds about 1.4 trillion cubic feet of natural gas, positioning it as a key element in Morocco’s energy strategy.
Morocco aims to source 52% of its energy from renewable resources by 2030, with natural gas playing a crucial role in this transition due to its lower environmental impact compared to oil. Developing gas resources will not only enhance energy security but also stimulate economic growth by creating jobs and attracting foreign investment.
Chariot Oil & Gas’s continued investment and exploration in Morocco mark a promising future for the country’s energy sector. With substantial gas reserves and strategic partnerships, Morocco is poised to become a significant player in both regional and global energy markets. The success of the Dartois prospect could unlock vast resources, further establishing Morocco’s role in the energy domain.
