UK-based Chariot Oil & Gas has agreed with the government of Morocco to take a 75 per cent interest in the offshore licence Rabat Deep.
The agreement, which involves seismic surveys over a three-year period, covers an area of 10,782 square kilometres next to Chariot’s recently-acquired Loukos and Casablanca/Safi licences.
Chariot will partner Morocco’s national oil company Office National des Hydrocarbures et des Mines (ONHYM), which will take a 25 per cent interest in the licence.
After the initial contract is carried out, Chariot will have the option of undertaking exploratory drilling activities. Chariot is an Africa-focused exploration group, which also has licences in Mauritania and Namibia.