Chariot Happy with Moroccan Field

In a market update, Atlantic Margins-focused explorer Chariot said that the outlook was bright for its Anchois field, off Morocco, and there were several development options to bring the gas to market. Accordingly it has initiated a drilling environmental assessment with a view to appraisal work next year, it said June 18.

The gas could reach the Moroccan market through the Magbreb-Europe Gas pipeline, from an onshore flowline taking the gas from an onshore processing facility. An entirely sub-sea production process was a possibility it said.

CEO Larry Bottomley said Chariot's studies demonstrate the technical feasibility and commercial attractiveness of developing the Anchois gas discovery with the potential to offer a strategically important indigenous source of gas into Morocco's developing energy market.

He said the combination of a de-risked resource base in a fast-growing energy market, with high gas prices and a need for increased supply, was "highly attractive to a wide range of potential strategic partners throughout the energy value chain."

Several other companies, notably Sound and SDX, have also seen the value of the high-priced Moroccan market, where industrial users account for much of the demand, although they are both working onshore.