Atlantic-focused explorer Chariot Oil & Gas has been awarded a 75% interest and operatorship of the Mohammedia Reconnaissance licence offshore Morocco.
The near-shore prospect neighbours the firm’s Loukos and Rabat Deep licences and covers an area of 4,600 square km, with water depths of less than 500m.
Former 2D data from existing licences identified Mio-Pliocene and Jurassic plays in the new prospect.
The company has contracted Dolphin Geophysical to carry out a single 3D seismic programme of approximately 1,700 square km across all three of its Moroccan licence areas, due to commence in early April.
Following the 3D testing of Mohammedia Reconnaissance Chariot will be able to enter into a full exploration permit with the awarding body, Morocco’s Office National des Hydrocarbures et des Mines (ONHYM), who retained 25% carried interest.
“We would like to thank ONHYM and the Ministry for their cooperation in securing this licence,” said Chariot Oil & Gas chief executive, Larry Bottomley.
“Our 3D seismic campaign will provide valuable information for further developing the potential in our Moroccan acreage, which, in the long term, will allow us to mature targets for drilling with a partner.”