Chariot Oil & Gas Taps Société Générale to Finance Moroccan Offshore Gas Project

A few months after announcing the success of the drilling in the Anchois gas field off Larache, the British company Chariot has started the financing phase.

"We are very pleased to have called on Société Générale to support us in financing the debt of our flagship gas project off Morocco. We had a very successful gas drilling campaign earlier this year," said Julian Maurice-Williams, Chief Financial Officer of Chariot, in a statement.

The objective is to develop debt financing options for the gas development of Anchois, while Chariot hopes "to advance the development of the project towards cash flow as quickly as possible," added Maurice-Williams.

In early April, Chariot had announced a "positive update" for the gas discovered in the Anchois well off Larache, which had proven to be of better quality and in greater quantity. "This combined increase and confirmation of consistently high-quality dry gas across all discovered gas reservoirs is extremely encouraging as it will contribute to simple and standard development," said Adonis Pouroulis, Interim CEO of Chariot.