Chariot re-evaluates the “Anchoa” field and accelerates gas development in Morocco
The British company Chariot, specializing in natural gas exploration, continues its efforts to re-evaluate gas wells in the offshore “Anchoa” field off the Moroccan coast, updating its project development plans after regaining its stakes in the “Lixus” and “Risana” licenses earlier this year, which it had previously sold to Energean.
Pierre Raillard, the company’s director in Morocco, explained that the regained offshore licenses still hold promising potential, noting that previous drilling operations did not prove additional resources as Energean had hoped, but gas is indeed present, according to him. Last year, Chariot signed an agreement to sell its stakes in the licenses located within the “Anchoa” field, but Energean later withdrew due to its unmet expectations regarding gas reserves.
Current estimates put the “Anchoa” field’s reserves at around 18 billion cubic meters of gas, compared to Energean’s previous expectations of reaching 30 billion cubic meters as part of its efforts to expand operations in Morocco after withdrawing from the Egyptian market. This field is among the key gas projects that Morocco is counting on, alongside the Tendrara field, to reduce its energy dependence and enhance local production.
Currently, Chariot holds a 75% stake in the “Lixus” and “Risana” licenses, while the National Office of Hydrocarbons and Mines has the remaining 25%. Morocco currently produces only about 100 million cubic meters of natural gas annually from small, nearly depleted fields, covering the rest of its needs through imports, especially after halting imports from Algeria in 2021, which forced it to resort to importing liquefied gas through Spain.
Chariot aims to accelerate the development of the “Anchoa” project in line with the national energy strategy, as domestic demand for gas is seeing significant growth, driven by its use in electricity generation and the development of its transportation and distribution infrastructure within the kingdom.
