Chariot Oil & Gas has signed a Memorandum of Understanding along with its partner, Office National des Hydrocarbures et des Mines (‘ONHYM’), with the Ministry of Industry, Trade and Green and Digital Economy in Morocco, to support the Anchois Gas Development project.
Per the MoU, the Ministry will support Chariot and ONHYM’s Anchois Gas Development to enhance job creation, regional integration through the development of strategic infrastructure and the promotion of clean and competitive energy for consumption by the Moroccan industrial sector.
The Ministry has been promoting the use of natural gas extracted in Morocco to help the Kingdom to meet its key national strategy of industrial development, the decarbonisation of its economy, diversification of the energy mix and the reduction of its dependence on imported fuels.
Commenting, the General Director Office National des Hydrocarbures et des Mines, Amina Benkhadra, said: “We are pleased to have signed this MOU with the Ministry of Industry and Chariot in line with ONHYM’s Mission and Strategy where we look to attract investment from the private sector to accelerate the development of resources in Morocco. We look forward to working further with our partner Chariot and assisting them with the advancement of the Lixus Offshore Licence.”
The Acting CEO of Chariot Oil and Gas, Adonis Pouroulis, said: “I am delighted to announce this MOU with the Ministry of Industry in Morocco. The Kingdom of Morocco is firmly focused on decarbonising its economy and diversifying its power sources and the development of the Anchois gas project will enable them to achieve this. Anchois has very strong ESG credentials and, once developed, it also has the potential to deliver considerable value for all stakeholders for decades to come.
The signing of this MOU is a significant step in our efforts to access the Moroccan gas markets. With the Kingdom of Morocco’s support we intend to build on the positive conversations we are already having with entities involved in the Moroccan gas market, giving us greater confidence that we will sign the necessary agreements to expedite the development of this value accretive gas project, for the benefit of the Kingdom and Chariot’s investors.”
The Lixus License contains the Anchois gas discovery. Chariot Oil & Gas Holdings (Morocco), has a 75% interest and operatorship of the Lixus Offshore Licence, Morocco, in partnership with ONHYM which holds a 25% interest.
