Chariot announces significant gas discovery at Anchois-2 offshore Morocco

AIM-listed Chariot has confirmed the presence of significant gas accumulations in the appraisal and exploration objectives of its Anchois-2 well within its Lixius License offshore Morocco. Preliminary interpretation of the data has identified a calculated net gas pay totaling over 100m (compared with 55m at Anchois-1).

At Anchois-2’s appraisal target, a continuation of a reservoir drilled by Anchois-1, the Gas Sand B notably has a calculated total net gas pay of over 50m in two stacked reservoirs of similar thickness.   

At the well’s exploration targets, Gas Sands C, M and O were successfully encountered with multiple gas-bearing intervals, Chariot has said.

This new significant gas discovery will help to expand the Anchois gas field and possibly expand the scale of its gas development in the future. It also significantly de-risks additional exploration prospects within the license area.

Chariot has been operator of the Lixius License since 2019 with a 75% interest. The block was previously known as the Tanger-Larache permit and already included the Anchois-1 discovery made by Repsol in 2009.

Anchois’s first phase of development is expected to include the drilling of four production wells tied into a subsea manifold, along with the installation of a 14in-diameter, 40km subsea flowline with control umbilical to the subsea manifold, construction of a 53 MMscfd onshore central processing facility (CPF) for exporting gas, and a 14in-diameter onshore pipeline for gas export. In October 2021, Chariot signed a Memorandum of Understanding (MoU) with a leading international energy group agreeing on the key terms of gas offtake from Anchois. Under the Mou, the key terms of the future gas sales agreements will be for c.40 MMscfd, for up to 20 years on a take or pay basis.

The phase two development plan is expected to involve additional wells to tie-in the Anchois W, Anchois WSW and Anchois SW areas of the field into the subsea manifold. It will be financed using the cashflow generated from first phase production.

Details on the Anchois Gas Development are available in the “Projects” section within your Hawilti+ research terminal.

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