An agreement to market gas, a factory in perspective

An agreement to market gas, a factory in perspective
An agreement to market gas, a factory in perspective

Abdelhafid Marzak

June 24, 2024 at 10:05

Cart is preparing for the marketing of gas from its license Loukos. The British gas exploration company has just signed an agreement with Vivo Energy for this purpose. 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 the Compressed Natural Gas (CNG) under a long-term gas sales agreement from potential future production at Loukos.

For its part, Vivo Energya pan-African leader in the marketing of fuels and lubricants, intends to design, finance, build and operate a natural gas compressed gas (CNG) and a distribution network to transport gas in the form of CNG from various sources to existing and new industrial customers in Morocco.

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 an activity gas-industryin particular by supplying domestic gas and establishing a midstream partnership for Compressed Natural Gas (CNG), in order to meet the growing energy demand of Moroccan industry, indicates the company.

The choice fell on Vivo Energy due to its long-standing presence in the Morocco in the petroleum products market and its network of more than 400 service stations that supply various industrial sectors across the country.

As a reminder, the junior recently completed the first phase of drilling and is currently preparing flow tests for the OBA-1 well located in the Loukos license75% owned by Chariot and 25% by ONHYM.

“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.

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