Eni completes offshore Morocco farm-in

Offshore staff

LONDON – Morocco’s authorities have approved the transfer of operatorship to Eni of the Rabat Deep Offshore permits I-VI.

The partners in the license are now as follows: Eni (40%), Woodside (25%), Chariot Oil & Gas (10%), and Office National des Hydrocarbures et des Mines (25% carried interest).

Eni acquired a 40% equity interest from Chariot in return for a capped carry on drilling the JP-1 prospect, and other geological and administrative costs relating to Rabat Deep and a recovery of Chariot’s investment to date.

The RD-1 well on JP-1 will target a 200-sq km (77-sq mi), four-way dip closed structure with Jurassic carbonate primary reservoir objectives. Estimated prospective resource is 768 MMbbl.

Larry Bottomley, Chariot’s CEO, said: “We anticipate that further to completing the environmental impact assessment, finalizing well planning and securing a rig, drilling will now occur in early 2018…

“Success will also materially de-risk other targets we have identified within our neighboring Mohammedia permits in which we hold a 75% interest.” 

01/09/2017

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...