Chariot Limited announced that it has been awarded a 75% stake and the operatorship of the Rissana license in Morocco.

In a press release, the company clarified that the Office National des Hydrocarbures et des Mines will hold the remaining 25% interest.

According to the company’s statement, Rissana surrounds the offshore area of Chariot’s Lixus Offshore License where it successfully concluded drilling activities in January 2022 and made significant natural gas discoveries.

Chariot elaborated that the initial minimum license commitment will involve the acquisition of a 2D seismic survey which will be essential in assessing the extension and potential of these gas plays across Rissana.

Amina Benkhadra, General Director Office National des Hydrocarbures et des Mines, commented: “We are pleased to formally award Chariot the Rissana license, offshore Morocco. ONHYM and Chariot recently conducted a highly successful drilling campaign in Morocco and we hope that we will be able to have similar success on Rissana.”

Also, Adonis Pouroulis, Acting CEO, commented: “We are delighted to have been formally awarded the Rissana license. As we demonstrated with our recent successful drilling campaign at Anchois, this is a highly prospective basin and, along with the Lixus Offshore License, the award of Rissana ensures that we have captured the exploration upsides in this exciting play. In parallel with the development plans on the Anchois gas field, we aim to maximize value from the exploration upsides in what we believe is a low risk and high value opportunity.”