Chariot starts gas drilling campaign in Morocco

Morocco

LONDON, May 3, 2024 – Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in Morocco, the company announced on Thursday.

The Gaufrette main target has best estimate recoverable prospective resources of 283 mcm (10 bcf). Chariot noted strong read-through for other prospects in the area with additional best estimate recoverable prospective resources of 736 mcm (26 bcf).

Chariot holds a 75% interest in the Loukos Onshore licence, with Morocco’s ONHYM holding the remainder. Loukos covers an area of 1,371 square kilometres adjacent to the company’s Lixus and Rissana offshore licences.

In Chariot’s evaluation, Loukos contains several low-risk gas prospects and has the potential to deliver early gas sales due to its proximity to an undersupplied industrial market.

“We are very pleased to commence this onshore campaign, kicking off the first of our exciting drilling operations for Chariot this year. We see significant upside both in the vicinity of our well locations and beyond,” said Duncan Wallace, technical director of Chariot.