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June 19, 2019

Chariot studies confirm technical feasibility of Anchois gas field

UK-based independent oil and gas exploration group Chariot Oil & Gas has completed the Development Feasibility Study for the Anchois Gas Field and the Morocco Gas Market and Anchois Field Monetisation Assessment under the Lixus Offshore Licence.

UK-based independent oil and gas exploration group Chariot Oil & Gas has completed the Development Feasibility Study for the Anchois Gas Field and the Morocco Gas Market and Anchois Field Monetisation Assessment under the Lixus Offshore Licence.

The company holds licences for two blocks in Namibia, two blocks in Morocco, and four blocks in the Barreirinhas Basin offshore Brazil.

The studies found that the development of the Anchois field is technically feasible, with potential for a single phase or a staged development to commercially optimise access to the gas market. Among the development options is a subsea-to-shore concept, using industry standard technical solutions and equipment.

The subsea-to-shore concept comprises subsea production wells tied to a subsea manifold. From there, a subsea flowline and umbilical connect the field to an onshore Central Processing Facility, where gas is processed and delivered into the Maghreb-Europe Gas pipeline through an onshore gas flowline.

The studies also found potential to re-enter the suspended Anchois-1 gas discovery well, which could be completed as a producer well.

According to the Chariot studies, Morocco has an energy market with attractive gas prices that underpins a commercially attractive project. The company has initiated an Environmental Impact Assessment to facilitate appraisal operations in 2020.

Chariot Oil & Gas CEO Larry Bottomley said: “The results of these studies demonstrate the technical feasibility and commercial attractiveness of developing the Anchois gas discovery with the potential to offer a strategically important indigenous source of gas into Morocco’s developing energy market.

“We believe the combination of a de-risked resource base in a fast-growing energy market, with high gas prices and a need for increased supply remains highly attractive to a wide range of potential strategic partners throughout the energy value chain.

“As part of the partnering process and to facilitate appraisal operations in 2020, the Company has initiated a Drilling Environmental Impact Assessment.”

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