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

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