(Alliance News) - Chariot Oil & Gas Ltd on Monday said it has signed a collaboration agreement with Subsea Integration Alliance to work together to enable the front-end design, engineering, procurement, construction, installation and operation of the Anchois gas development project in Morocco.
Subsea Integration Alliance is a non-incorporated strategic alliance between Sutton, UK-based engineering, construction & services company Subsea 7 SA and OneSubsea, a division of Texas, US-based oilfield services company Schlumberger Ltd.
The African-focused energy company said the scope of the agreement covers front-end engineering support and engineering design work. In addition, it includes engineering, procurement, construction, installation, pre-commissioning and commissioning work, as well as operations and maintenance of the facilities.
"This collaboration agreement with Subsea Integration Alliance further endorses our view that the Anchois development is a high-value project," said Chariot Acting Chief Executive Adonis Pouroulis.
"We believe that 2021 will be an exciting year for the business, as we look to commence with our operational plans at Anchois and further enhance our portfolio to include other commercial opportunities along the theme of energy transition," added Pouroulis.
AIM-listed Chariot shares were trading 12% higher in London on Monday at 7.76 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Chariot Ltd (CHAR)