Chariot today7 Dec 2023 07:27
Dr Leila Benali, Minister of Energy Transition and Sustainable Development commented: "This agreement is pivotal for the wider acreage offshore Morocco, on its Atlantic coast, a key energy asset for the Kingdom. We welcome Energean on these licences as the important investments will contribute greatly to the monetisation of the country's resources and to our ambitious energy strategy.
Mrs Amina Benkhadra, General Director Office National des Hydrocarbures et des Mines commented: "I would like to congratulate both parties on signing this agreement. The discovery and extensive work to date has set an excellent foundation on which the project can be developed and this partnership will now be instrumental in financing and taking it through the next phase. We look forward to working alongside Energean and Chariot in bringing the project to first gas."
Mathios Rigas, CEO of Energean commented: "This is an exciting step in the next stage of our development, one that can only enhance our position as the pre-eminent independent natural gas producer listed in London. These assets are particularly attractive as we understand the core geological, commercial and political drivers of the region, we have a track record in developing material gas resources prioritised for the domestic market and they are a complementary fit with our broader portfolio, not least the potential for surplus supply to other markets. We look forward to working with our partners Chariot and ONHYM, and developing an outstanding resource for the benefit of all parties, including Morocco and its people."
Adonis Pouroulis, CEO of Chariot commented: "In Energean, we have secured a partner with a proven track record of rapidly building and delivering this kind of offshore development. Energean also shares our view that Anchois and its surrounding acreage offers significant upside potential and we are aligned with our plans moving forward. The new partnership is a key step in bringing the development of the Anchois field to reality and we are looking forward to continuing the extensive work undertaken so far to reach Final Investment Decision."
We are excited about the next phase of drilling which has the potential to both unlock significant additional resources and upsize the production profile. It is intended that this well will be used as a producer well when development commences. We retain a material stake in this basin opening opportunity where both parties are keen to optimise the project's fundamentals, enable expansion and undertake further exploration. We also look forward to drilling on our Loukos Onshore licence which is anticipated to commence in early 2024."
Sign In
Follow the stocks
