Chariot is preparing to market gas from its Loukos license. The British gas exploration company has just concluded an agreement with Vivo Energy to this effect.
This agreement provides for the sale, by Chariot, of initial gas volumes of up to 3 million cubic feet per day (or approximately 30 million cubic meters per year) to the entity dedicated to the marketing of Compressed Natural Gas (CNG ) as part of a long-term gas sales agreement from potential future production at Loukos.
As for Vivo Energy, it intends to design, finance, construct and operate a compressed natural gas (CNG) plant and distribution network to transport gas in the form of CNG from various sources to existing and new industrial customers in Morocco.
“Vivo will design, finance, construct and operate a natural gas distribution network to transport gas from various sources to customers across Morocco.” indicate the British media.
Finally, the agreement provides that this CNG activity would be operated and developed by a dedicated entity in which Chariot could hold up to 49% of the shares.
More generally, this agreement aims to define future steps to develop a gas-industry activity, in particular by supplying domestic gas and establishing a midstream partnership for Compressed Natural Gas (CNG), in order to meet demand. growing energy of Moroccan industry, indicates the company.
The choice fell on Vivo Energy due to its long-standing presence in Morocco on the petroleum products market and its network of more than 400 service stations which supply various industrial sectors across the country.
“Loukos has other gas resources on existing unexploited sites and an attractive exploration portfolio representing additional production potential. The data collected during the drilling campaign and the recently reprocessed 2D and 3D seismic data are being integrated with a view to evaluating these potential resources,” Chariot specifies in a joint press release.
