The energy group, Chariot Limited, announced the signing of an agreement in principle with Vivo Energy for the future sale of natural gas from the Loukos onshore license in Morocco, this June 24.
This agreement establishes the next steps for the commercialization of domestic gas and the creation of a compressed natural gas (CNG) partnership to meet the growing needs of Moroccan industry.
Chariot, operator of the Loukos license, recently completed its first drilling campaign on this license and plans flow tests on the OBA-1 well. Loukos harbors additional gas resources in undeveloped discoveries and a promising exploration portfolio. The data collected during the drilling campaign and recent seismic analyzes are being integrated to refine the understanding of this potential.
Vivo Energy, a specialist in the distribution of fuels and lubricants, operates through its subsidiary Vivo Energy Maroc a network of more than 400 service stations, supplying various industrial sectors.
In details, the agreement includes the sale by Chariot of initial volumes of up to 3 million standard cubic feet per day to the CNG company, with Vivo Energy as responsible for the design, financing, construction and operation of a gas plant and a virtual distribution network to serve Moroccan industrial customers.
Pierre Raillard, Managing Director of Chariot Maroc, said: “we are delighted to extend our collaboration with Vivo Energy, which will benefit both partners and stimulate the development of the Moroccan gas network.”
For his part, Matthias de Larminat, general manager of Vivo Energy Maroc, added: “natural gas is essential to decarbonize Morocco, in accordance with the ambitions of His Majesty the King. This project perfectly meets the needs of Moroccan industrial players.”
