Chariot completes FEED for gas development project offshore Morocco

(WO) – Chariot Limited has completed the Front-End Engineering and Design (“FEED”) on the key components of its flagship Anchois gas development project offshore Morocco. The Anchois gas field is located within the Lixus Offshore license area, in which Chariot holds a 75% interest and operatorship, alongside ONHYM which holds a 25% interest.

The FEED for the Anchois development was initiated in June 2022. In conjunction with the subsurface development studies, this work confirms the individual components of the initial development, which includes three initial subsea producer wells, including the Anchois-2 well drilled by Chariot in 2022, with multi zone completions to enable gas recovery across multiple stacked sands.

It also includes subsea infrastructure capable of delivering produced hydrocarbons from the wells to the onshore facilities via a subsea flowline and controlling the wells via an umbilical, with future expansion capabilities to tie-back additional wells. In addition, the Anchois gas development also features an onshore central processing facility to process the hydrocarbons and to deliver treated gas and condensate to market, with an initial capacity of 105 MMscfd.

There is also an onshore gas pipeline to deliver the gas to the anchor gas offtakers via the Maghreb Europe Gas Pipeline, for which a tie-in agreement has already been signed.

Engineering, Procurement and Construction (“EPC”) commercial proposals have now been requested.

In addition to the FEED, other technical work has been progressing in parallel, in the lead up to development sanction, including an Environmental, Social Impact Assessment (“ESIA"), for which onshore and offshore environmental baseline surveys have already been conducted. A Field Development Plan is being finalized by the Lixus joint venture partnership to enable the award of the production concession.

Development drilling planning is ongoing, which can further evaluate the potential of an additional 754 Bcf of 2U prospective gas resources for minimal additional cost. The targets identified have an independently assessed geological chance of success ranging from 49-61%.

Adonis Pouroulis, Chief Executive Officer, commented, “The conclusion of the FEED stage, largely performed by the Subsea Integration Alliance (‘SIA’), is an important step in defining the initial development plan to deliver gas to our anchor customers. In conjunction with the Field Development Plan and Environmental and Social Impact Assessment work completed to date, we have further cemented the viability and commercial potential of the development, founded upon its excellent reservoir and gas properties, favorable location with regards to existing infrastructure and the opportunity to leverage off existing, conventional technology.”