Morocco’s Anchois Gas Project Scaled Back to Two-Well Plan
Chariot has confirmed a two-well start for the Anchois gas project off Larache. The plan is expected to reduce the investment required, but the company is still seeking partners and has given no date for the start of production.
In its half-year results published on September 30, Chariot says it has optimized this initial plan. The company says it has significantly reduced investment requirements, without putting a figure on the savings.
It plans to reuse engineering studies already completed and permits already obtained. According to the company, the project retains commercial strengths: growing demand, high gas prices and proximity to major infrastructure.
A project already being scaled back
This change in scale did not begin in September. As early as April, Chariot outlined a development focused on the resources identified in the Anchois-1 and Anchois-2 wells. Its official presentation said at the time that planned production capacity would be maintained despite lower projected investment.
Talks with potential partners on the offshore licenses are continuing. Meanwhile, Chariot is increasing its exposure to Angolan oil, with two transactions intended to bring it revenue from assets already in production.
For Anchois, the initial two-well plan is therefore confirmed. The updated budget and the date of first gas remain to be specified.
