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%).

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

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

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 ...