By: Energy capital & power

UK-based, Africa-focused energy firm Chariot Limited has completed the acquisition of a 45% interest in the Lixus and 37.5% stake in the Rissana licenses in Morocco from an Energean subsidiary.

The acquisition enables Chariot to regain operatorship of the licenses, which include the Anchois gas discovery. Chariot now owns a 75% interest in each of the blocks.

The deal marks a reversal of a previous agreement, in which Chariot farmed out stakes in the two blocks to Energean in a deal signed in December 2023 and finalized in April 2024.

Adonis Pouroulis, CEO, Chariot stated that the company saw “material value” in its Moroccan portfolio, both offshore and onshore, prompting the strategic reacquisition.

The company, in partnership with Morocco’s National Office of Hydrocarbons and Mines, will progress license work programs and assess additional potential in the two license to explore options for a rescaled development of the Anchois field.

Three wells have been drilled across the licenses, with the most recent, completed in September 2024, confirming the presence of gas-bearing sands, though not in sufficient quantities to justify updating the existing development plan.

Chariot aims to leverage the project to meet increasing domestic gas demand.