Massive gas discovery imminent? Chariot begins high-stakes drilling in Morocco

Chariot Limited, the Africa-focused transitional energy group, has officially commenced drilling operations at the Anchois gas project, located offshore Morocco within the Lixus Offshore licence area. The project is centered on the Anchois-3 well, which aims to unlock substantial gas resources that could significantly enhance Morocco’s energy output. This drilling campaign is being conducted by the Stena Forth drillship, which arrived on location in mid-August 2024.

The drilling operations are divided into several key phases, beginning with a pilot hole designed to evaluate the potential of the Anchois Footwall prospect. This undrilled fault block, situated to the east of the main field, has a 2U Prospective Resource estimate of 170 billion cubic feet (Bcf) of gas. Following the pilot hole, the main hole will be drilled to further explore and evaluate the discovered gas sands within the Anchois field. This phase targets an area with a current 2C Contingent Resource estimate of 637 Bcf. Additionally, the deeper Anchois North Flank prospect will be explored, which has an estimated 213 Bcf in prospective resources. This phase is also intended to de-risk the nearby Anchois South Flank prospect, which holds an estimated 372 Bcf of gas.

Once the drilling phases are completed, selected gas sands will undergo flow testing to assess reservoir and well productivity. The well is planned to be suspended after testing, allowing it to serve as a potential production well in the future.

The Anchois gas field, discovered in 2009, is a crucial component of Morocco’s offshore energy development. Located approximately 40 kilometers off the Moroccan coast in the Tanger-Larache exploration area, the field is integral to enhancing the country’s energy security. The gas from this field is planned to be supplied via the Maghreb-Europe gas pipeline, which is pivotal for both domestic and international energy markets.

Chariot Limited, along with its partners Energean and the National Office of Hydrocarbons and Mines (ONHYM), stands to significantly benefit from this drilling campaign. The potential to increase the Anchois field’s resource base to over 1 trillion cubic feet (Tcf) of gas underscores the strategic importance of this project. Chariot’s CEO, Adonis Pouroulis, has expressed optimism about the prospects, highlighting the company’s commitment to advancing towards a Final Investment Decision (FID) rapidly, with first gas targeted by 2024.

In addition to the Anchois project, Chariot is also advancing various other initiatives across Africa, including renewable energy projects and green hydrogen developments. These efforts reflect Chariot’s broader strategy of contributing to Africa’s energy transition, aligning with global sustainability goals.

This drilling campaign at Anchois-3 represents a pivotal moment for Chariot Limited, positioning the company as a key player in Morocco’s burgeoning energy sector and reinforcing its role in Africa’s energy landscape.