Chariot Limited the Africa focused transitional energy group, has announced receipt of all necessary Moroccan governmental and regulatory approvals as the company sealed Partnership Agreements with Energean plc group as  previously disclosed on 7 December 2023.

Based on the aboved sealed partnership agreement, Energean is now holds 45% and 37.5% of the respective interests in, and has been declared the operator of, the Lixus and Rissana licences, offshore Morocco

• Chariot is retaining the 30% and 37.5% of the respective interests in these licences, while ONHYM is maintaining a 25% stake in each. With completion of the deal, Chariot has now received the US$10 million upfront cash consideration from Energean

In addition, Chariot has further disclosed that a rig contract has been signed with Stena Drilling for the use of its Stena Forth drill ship for the Anchois-East appraisal and development well and an optional well, located within the Lixus licence.

This drilling and testing campaign will be conducted in Q3 2024 which will further appraise the existing gas sands, including flow testing, and target undrilled prospective resources to look to increase the Anchois gas development to over 1 Tcf.

 “We are very pleased to have received formal approval from the Moroccan authorities for the transaction, for Energean to officially be our partner on the Lixus and Rissana licences and to have the rig contract signed for the Stena Forth. Our teams have been working closely together on well planning to deliver the expedited commencement of this campaign in Q3 2024 and further updates on this will be provided in due course. I would like to thank ONHYM, the Ministry of Energy Transition and Sustainable Development and the Ministry of Finance for their ongoing support in securing the approvals as we look to progress the Anchois project and its surrounding acreage,” Adonis Pouroulis, CEO of Chariot commented.