Chariot Oil & Gas Secures Approval for Major Moroccan Gas Exploration Project

The Unified Regional Investment Commission (CRUI) has approved the Environmental Impact Assessment (EIA) for the drilling activity on Chariot Oil & Gas’ Loukous onshore license, the Africa-focused energy company announced on Monday, stating that the EIA covers a total of 20 drilling operations. These include an initial campaign covering two exploration wells on the Gaufrette and Dartois prospects, as well as 17 other well locations and the reopening of an existing gas discovery. Validated for a period of 5 years, the permit covers various locations, giving Chariot the opportunity to expand its activities in the area. "The approval of the EIA for multiple additional locations gives us the flexibility for future campaigns," said Pierre Raillard, Head of Gas Business and Maghreb Country Director.

At the end of January, Chariot Oil & Gas had announced its prospects for 2024. "We are starting this new year with numerous important catalysts for the group in the coming months. By launching the drilling campaign on the Loukos license, we are focusing on exploiting an onshore basin that has been neglected and has the potential for near-term production with immediate access to industrial markets. It is also important to note that this asset also has a growing portfolio of follow-on opportunities. This potential gives the project significant scale and value at a time when industrial gas demand and gas prices are reaching unprecedented levels," said Adonis Pouroulis, CEO of the company.