July 8, 2014
Australia’s Woodside has finalized a farm-in deal for acreage offshore Morocco in the Doukkala Basin region with Chariot Oil and Gas.
Woodside said it will acquire an initial 25% in the Rabat Deep Offshore permits 1-VI encompassing 10,782 sq km (4,161 sq miles) in water depths that range from 150 m to 3,600 m (492 ft to 11,808 ft), with an option to acquire a further 25% in exchange for a capped well carry commitment, the company said in a news release.
Chariot remains operator of the area holding 50% equity with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) retaining a 25% carried interest.
