By Christian Moess Laursen
Energean, a London-listed oil-and-gas company, has recently acquired stakes in two gas licenses offshore Morocco from energy company Chariot. This strategic move aims to enhance Energean’s presence in the Mediterranean region.
The deal involves a cash payment of $10 million upon closing and an additional $15 million contingent upon the final investment decision for the Anchois development, which is part of the Lixus license.
Energean has purchased a 45% stake in the Lixus license, with an option to raise it to 55% after drilling results, as well as a 37.5% interest in the Rissana license.
The Anchois gas development is particularly noteworthy, as it is estimated to hold around 18 billion cubic meters of natural gas and exhibits significant exploration potential, according to Energean.
Both licenses also involve Moroccan state-owned company ONHYM, which holds a 25% stake in each, with Chariot retaining the remaining interests.
Energean has plans to conduct an appraisal well in 2024, with the objective of accessing an additional 11 billion cubic meters of natural gas to be utilized through the Anchois development.