Eni enters into offshore Morocco farm-out agreement

Eni has signed a farm-out agreement (FOA) with Chariot Oil & Gas that provides the operatorship to Eni and a 40% stake into Rabat Deep Offshore exploration permits I-VI offshore Morocco, located in the Northern Atlantic Margin of Morocco.

The completion of this FOA is subject to the authorization of the Moroccan authorities, to current partners’ approval and other conditions precedent. The agreement provides the operatorship to Eni and a 40% stake of the license, as well as the exploration rights over an area of 10,780 square kilometers, with water depths ranging from 150 meters to 3,500 meters. 

At completion of the agreement, the license will include: Eni (operator, 40%), Woodside (25%), Chariot (10%), and the Office National des Hydrocarbures et des Mines (25%).

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