Morocco gives green light to Chariot's drilling in the north of the country

British energy company Chariot has given the go-ahead for its second drilling operation in northern Morocco. The OBA-1 well was successfully drilled and marks a milestone in the company's exploration campaign. 

Duncan Wallace, technical director, was excited before drilling commenced. "We are excited to start the second well of this drilling campaign," he said. "We are testing independent prospects for the direction of existing Dartois gas discoveries located in other fields. We look forward to receiving an update on the results in due course," he stressed. 

Chariot has a 30% interest in the Lixus Offshore licence, which covers an area of approximately 1,794 square kilometres in northern Morocco. The licence is shared with Energean, which holds 45%, and ONHYM, which holds 25%. 

The Dartois field has an estimated production of 12 billion cubic barrels. The independent study focuses on a different style of capture than the Gaufrette study drilled through the RZK-1 well. The success of the OBA-1 well could reveal future trends, combined with the best estimate of a potential recoverable resource of 20 Bcf. 

In 2019, Chariot Oil & Gas announced the discovery of a natural gas field in the Dartois region of northern Morocco. The gas field named "Anchois" is located approximately 100 km north of the city of Nador, in the Tangier-Tetouan-Al Hoceima region. The gas field has about 1.4 trillion cubic feet of natural gas reserves, according to Chariot Oil & Gas. 

The company began exploring the area in 2018 and announced the discovery of the gas field in September 2019 after months of drilling. The discovery of the Dartois gas field is seen as a major breakthrough as the country seeks to diversify its energy sources and reduce its dependence on imports. 

The North African country is developing a natural gas and oil sector thanks to recent field discoveries and explorations by major international companies such as Chariot and Energean, which are based in the UK and have a strong presence in Israel. 

Morocco is keen to invest in natural gas as part of its energy mix, which can replace other energy sources such as oil. This is because natural gas has a low environmental impact. However, it is using renewable energy as part of its energy future. 

The goal is to obtain 52% of the country's energy from renewable energy sources by 2030. In fact, it has set up an investment plan to attract funds from domestic and foreign investors through a new investment charter. This aims to attract capital for domestic investment. 

Morocco's natural gas production can benefit the country's economy in several ways. Exploration and production helps diversify Morocco's economy, reducing its dependence on a single economic sector. 

On the other hand, it can create jobs and stimulate economic growth in Morocco. Morocco's production could benefit Europe by diversifying the supply of oil and natural gas to Europe, reducing dependence on oil and natural gas imports from distant countries. 

Europe could thus obtain hydrocarbons at a better price. Chariot Morocco is also committed to working with local authorities to develop sustainable and efficient public transport solutions and to promote electric mobility and emissions reduction. However, it is important to note that natural gas production can also have a negative environmental impact if not properly managed.