Chariot Oil Awarded Mohammedia, Morocco, Permit
Chariot Oil & Gas Investments (Morocco) Limited, the wholly owned subsidiary of Chariot Oil & Gas Limited (AIM: CHAR) has been awarded a 75% interest and operatorship of the Mohammedia Offshore Exploration Permits I - III ("Mohammedia"), Morocco in partnership with the Office National des Hydrocarbures et des Mines ("ONHYM") which holds a 25% carried interest. The Mohammedia permits sit in the nearshore and cover an area of approximately 4,600km2 with water depths less than 500m. They are adjacent to the Company's Rabat Deep Offshore Exploration Permits on which Chariot recently announced success in partnering.
QP, Chevron Ink Offshore Moroccan Deal
Qatar Petroleum has reached an agreement with Chevron Morocco Exploration Ltd., a subsidiary of Chevron Corporation, to acquire a 30% participating interest from Chevron’s 75% share in three deep-water offshore leases in the Kingdom of Morocco. Under the agreement, which was approved by the Moroccan government, Qatar Petroleum will acquire the 30% interest in the deep-water leases, while Chevron will retain a 45% interest and remains the operator and Morocco's Office National Des Hydrocarbures Et Des Mines will continue to have a 25% interest. The three offshore areas are Cap Rhir Deep, Cap Cantin Deep and Cap Walidia Deep.
Kosmos Energy's Update
Kosmos Energy announced today that the CB-1 exploration well located in the Cap Boujdour permit area offshore Western Sahara encountered hydrocarbons. The well penetrated approximately 14 meters of net gas and condensate pay in clastic reservoirs over a gross hydrocarbon bearing interval of approximately 500 meters. The discovery is non-commercial, and the well will be plugged and abandoned. Andrew G. Inglis, chairman and chief executive officer, said: “The CB-1 exploration well was designed to open the frontier Laâyoune Basin by testing the Al Khayr Prospect.
Chariot to Farm-out with Woodside
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, reports that, as detailed in the announcement of 4 July 2014, the farm-out signed between its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd. and a wholly owned subsidiary of Woodside, Australia's largest independent oil and gas company, has been approved for the Rabat Deep Offshore permits I-VI by the Moroccan authorities. As part of the farm-out agreement, Woodside committed to pay 100% of the 3D seismic acquisition and processing costs incurred across the licence by Chariot…
Chariot Oil & Gas Investments & Woodside Sign Agreement
Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas exploration company, informed that its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd., has signed a farm-out agreement with a wholly owned subsidiary of Woodside, Australia's largest independent exploration & production company. Following completion of this agreement, which is subject to the approval of the Moroccan authorities, Woodside will hold a 25% equity interest in the Rabat Deep Offshore permits I-VI, Morocco, in return for paying 100% of the 3D seismic acquisition and processing costs incurred across the licence by Chariot…
Chevron Needs 2.5 Years to Decide on Morocco Prospects
U.S energy major Chevron needs at least two and a half years to gather seismic data before deciding whether to stay in Morocco, the head of its Moroccan affiliate said on Wednesday. In January, Chevron Morocco Exploration Ltd signed an agreement with Morocco's Office National Des Hydrocarbures Et Des Mines (Onhym) for three deepwater blocks in one of the less explored areas in the region. Vice President and Country Manager at Chevron Morocco Exploration, Carl Atallah, told Reuters the company was still in the early stages of exploration. "We plan two and a half years of seismic data to make a decision whether to stay in Morocco or not.
