Polarcus Shoots Seismic for Chariot Off Morocco

Chariot Oil & Gas has started 3D seismic acquisition over Kenitra exploration permit (Kenitra) and Mohammedia exploration permits I-III (Mohammedia) offshore Morocco.

The survey follows the award of a 75% interest and operatorship of Kenitra, in partnership with the Office National des Hydrocarbures et des Mines (ONHYM) which holds a 25% carried interest.

The survey, being conducted by Polarcus, will enable the company to develop the portfolio of drillable prospects and potentially identify additional material prospectivity. This seismic campaign will fulfil the work commitment for the current licence phase on both licences, Chariot said.

Kenitra, with an area approximately 1,400 km2 and in water depths ranging from 200 m to 1,500 m, was formerly part of the Rabat Deep offshore exploration permits I-VI (Rabat Deep), in which Chariot now has a 10% interest and a capped carry on the RD-1 well which is anticipated to be drilled in early 2018.

Larry Bottomley, CEO of Chariot said: “In line with our strategy we continue to manage our portfolio proactively. This award allows us to capture the extension of the Lower Cretaceous play which spreads from Mohammedia into the Kenitra acreage. With our focus on de-risking our assets, Chariot will develop the drilling inventory on these permits through seismic acquisition which capitalizes on the current excellent seismic contract rates.”