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Transitional Gas

Delivering a strategically located and material new natural gas province in Morocco, looking to positively impact a growing economy currently reliant on energy imports and coal.


Equity position

637 BCF


754 BCF



Operated blocks


The Anchois Gas Development Project

The Lixus Offshore licence covers an area of approximately 1,794km², with water depths ranging from the coastline to 850m. The area has extensive data coverage with legacy 3D seismic data covering approximately 1,425km² and 5 exploration wells, including the Anchois-1 and Anchois-2 discovery wells.

The Anchois gas discovery represents a high value gas appraisal and development project.

  • Anchois-1 gas discovery – previously audited total remaining recoverable resource in excess of 1 Tcf, comprising 361 Bcf 2C contingent resources and 690 2U prospective resources.
  • The appraisal and exploration well, Anchois-2, drilled safely, on time, and on budget, discovered excellent quality, dry gas across seven reservoirs with approx. 150m net pay.
  • Updated Independent Assessments made in 2022 provide material increase in resources for the Anchois Gas Field, which now stand at 637 Bcf 2C contingent resources and 754 Bcf 2U prospective resources.
  • High quality reservoir properties that mean producer wells can produce gas at high rates, reducing the associated drilling and completion costs and subsea complexity.
  • Excellent gas quality, without impurities such as carbon dioxide or hydrogen sulphide, means that standard materials and technology can be used for the flowline and processing facility
  • World-class commercial contract terms with high gas prices in a developing market with growing energy demand offers a potentially high-value project
  • Project financing for the development of the project to be led by notable investment bank Societe Generale
  • Reservoirs are directly imaged on seismic data, with distinctive seismic signatures, showing bright, high amplitudes and far-offset (AVO) seismic anomalies, increasing the confidence in the lateral extent of the sands away from the discovery well location and other systems on-block
    • Material low risk exploration satellites with significant tie-back potential
    • Additional on-block exploration upside of >4.5 Tcf

Primary energy demand in Morocco has doubled since the year 2000 and is forecast to double again from 2015 to 2030. In terms of power generation, imported fossil fuels dominate, with Morocco relying on imports for over 90% of its primary energy needs. The Moroccan government has been working on policies designed to improve security of supply, to provide industries access to cleaner energy at a low cost, and to minimise the environmental impact of its energy mix. As part of this process, gas has been a major factor in its vision, including the construction of further power infrastructure.

Rissana Offshore


The Rissana Offshore licence, covering an area of 8,489km², surrounds the offshore boundaries of Chariot’s existing Lixus Offshore Licence, as well as covering the most prospective northern areas of the previously held Mohammedia Offshore and Kenitra Offshore licences.

  • Chariot operates the block with 75% interest.
  • Material potential running room in various plays including:
    • The Mio-Pliocene gas play surrounding the Lixus licence, on-trend with the Anchois Gas Discovery
    • The Mesozoic play including 3D prospects inherited from the legacy portfolio
    • New exploration targets in plays revealed on reprocessed 2D and 3D data
  • Initial minimum licence commitment is the acquisition of a 2D seismic survey, over a portion of the acreage, which will help to evaluate the extension and potential of these plays across Rissana.

“Our offshore and onshore blocks contain a variety of exploration and development synergies which feed into a sustainable business model for the future of Chariot Transitional Gas in Morocco”

Pierre Raillard

Morocco Country Director

Loukos Onshore

  • The Loukos Onshore licence, covering an area of 1,371km², is adjacent to Chariot’s Lixus and Rissana offshore licences; it is also the location of the planned Anchois processing facility and pipelines.
  • Chariot operates the block with 75% interest and is performing a detailed evaluation on existing modern 3D seismic data of 150 km² and previously drilled on-block wells. Work has led to the identification of an overlooked, shallow, conventional gas play, which:
    • has already produced gas in other areas onshore Morocco,
    • is geologically similar to Chariot’s offshore projects including the Anchois gas discovery
    • contains multiple low risk gas prospects, supported by characteristic seismic attributes
    • is de-risked by gas and reservoir proven in previously drilled, offset wells, which targeted deeper alternative plays
  • Loukos has the potential to deliver early gas sales due to the proximity to a significant and undersupplied industrial gas market

Domestic Gas to Market

  • Chariot’s acreage sits in a prime position to meet domestic needs, with 67% of Morocco’s GDP originating from the Atlantic coastal areas
  • Gas from Chariot’s activities are deliverable to the power, industrial and export markets via a variety of potential solutions, including piped gas, leveraging off of the existing GME pipeline and existing supply pipelines in the Kenitra area, or via ‘virtual pipeline’ solutions using compressed or liquified natural gas (CNG or LNG).
  • Chariot’s position to supply gas to the domestic market has been strengthened through Gas Sales Principles with the state national utility ONEE, pipeline tie-in agreements with owners, and project partners ONHYM, and a partnership with Vivo Energy, a leading distributor of petroleum products in Morocco.
  • Beyond Morocco, export gas sales opportunities are also being discussed with multiple offtakers, for the delivery of surplus gas to Europe, where the desire for a diversity in gas supply has increased.
  • Competing with imported petroleum products such as LPG, which is believed to have recently risen in response to the reduced supplies, Chariot has access to an attractive and scalable domestic market, which will also benefit the Kingdom through the delivery of cleaner and cheaper energy to help deliver the associated economic benefits to all stakeholders.

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