New natural gas reservoirs off Larache, of excellent quality, Chariot company announces

The British company, Chariot Oil & Gas Chariot, has announced that the new natural gas reservoir discovered in the Anchois well off Larache is of excellent quality.

The Africa focused transitional energy company said the tests carried out on these field wells revealed that methane gas would be present at more than 96% in the seven reservoirs, “without harmful impurities such as H₂S or CO₂”, allowing “minimal treatment” of the gas required in the development.

The results of the tests carried out allow an upgrade to approximately 150 m compared to the preliminary analysis previously announced of more than 100 m, and this compared to the 55 m estimated during the first discovery of the Anchois-1 well, said the company in a press release.

The British oil giant indicates that the gas treatment, in its current configuration, will not require a lot of investment, since it could be made from “a single gas treatment facility”.

Adonis Pouroulis, interim CEO of Chariot, said he was “Delighted to announce this very positive update on the analysis of well data obtained from our successful gas drilling campaign on the Anchois project.”

“Our ambition is to bring Anchois gas development online quickly, to fuel Morocco’s economic growth, but also to provide short-term cash flow to our shareholders. We will continue to work on an accelerated development plan for the land, to the benefit of all stakeholders,” Andonis Pouroulis added.

Chariot holds a 75% share in the operation of Lixus in partnership with National Office of Hydrocarbons and Mines (ONHYM), which holds the remaining 25%.