London South East
LONDON (Alliance News) – Chariot Oil & Gas Ltd Thursday said that it has commenced a 3D seismic survey across its areas of interest offshore Morocco, and it expects the survey to take six weeks to complete.
Last month the Atlantic margins-focused oil and gas exploration company, said it had been awarded a 75% interest and operatorship of the Mohammedia Reconnaissance Licence offshore Morocco in partnership with the Office National des Hydrocarbures et des Mines, which holds a 25% carried interest.
It was awarded the interest and operatorship through its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd.
This licence area is adjacent to the company’s Loukos and Rabat Deep licences and sits in the near shore.
Chariot Oil said Thursday that in conjunction with its partner, ONHYM, it has now started a 1,700 square kilometre 3D seismic survey, which it anticipates will take six weeks to complete, and fulfils all of the company’s work commitments in each of its Moroccan licences during their current periods of exploration, including that of the Mohammedia Reconnaissance Licence.
Chariot shares were trading 0.5% lower Thursday at 23.62 pence per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@
