In the Competent Persons Report on Additional Prospects, published on September this year by Netherland Sewell & Associates Inc. (NSAI), the company stated that the research carried out on five gas wells revealed a strong gas exploitation potential.
NSAI tests, conducted on behalf of Chariot Oil & Gas, affirmed the potential of the “Anchois Discovery” and “Anchois Satellite” wells, as well as five other wells, which far exceed the British company’s expectations.
Chariot Oil & Gas CEO, Larry Bottomley, said in the report, “the combination of the Anchois Discovery, the Anchois Satellite prospects, and these five Additional Prospects defines a strategically significant resource.”
The report also indicates that a third-party analysis of the Moroccan gas market “demonstrated a growing demand for energy with attractive domestic gas prices which, in combination with excellent commercial contract terms, underpins a commercially attractive project.”
“The Anchois Discovery offers the potential for a material, high-value project that is likely to be of strategic importance,” the report added.
Chariot Oil & Gas holds 75% interest and operatorship of Lixus, while the Office National des Hydrocarbures et des Mines (ONHYM) holds a 25% carried interest in the framework of a “strategic” partnership.
The country has however embarked on an ambitious goal of sourcing 52 percent of its total energy from renewable sources by 2030.