MOROCCO: Chariot Regains Operatorship of the Lixus and Rissana licences

Chariot has regained Operatorship of the Lixus and Rissana licences, offshore Morocco, with Energean plc returning its interests to Chariot. The Company will have a 75% working interest in each licence, with ONHYM retaining a 25% stake.

Adonis Pouroulis, CEO: “We are pleased to have completed the transfer of these licences and regained operatorship as we see material value within our diversified Moroccan position, both offshore and onshore. The Anchois gas discovery still offers the potential for a rescaled development and our next steps are to scope this based on the core resources found in the three wells underpinned by our previous work on engineering design, environmental and regulatory approvals, project financing and gas sales. Gas market fundamentals in Morocco are robust with strong gas demand and excellent fiscal terms and we will look to work with all stakeholders, including our partner ONHYM and the Ministry of Energy Transition and Sustainable Development to advance these important domestic projects.”