Chariot Regains Operatorship of Moroccan Offshore Gas Licenses

Chariot Limited has regained full operatorship and a 75% interest in the Lixus and Rissana offshore gas licenses in Morocco after Energean exited the project, transferring its stake back to Chariot. The licenses include the Anchois gas field, where three wells have been drilled, including the Anchois-3 well completed in September 2024, confirming good quality gas reservoirs but not sufficient to expand the original development plan. Despite this, Chariot sees significant material value in its Moroccan portfolio and plans to reassess and rescale the development plan for the Anchois field in partnership with Morocco's National Office of Hydrocarbons and Mines (ONHYM), which holds a 25% stake. The company aims to leverage the licenses to meet Morocco's robust domestic gas demand and will continue working with stakeholders including the Ministry of Energy Transition to advance the projects. Chariot’s CEO, Adonis Pouroulis, emphasized the strong gas market fundamentals and excellent fiscal terms in Morocco, underlining the strategic importance of these assets in Chariot’s diversified energy portfolio. The company intends to build on previous engineering, environmental, regulatory, and financing work as it explores further gas potential in the region.