Chariot Limited and Vivo Energy recently signed an agreement for the marketing of natural gas extracted from the Loukos Onshore license in Morocco.
This partnership aims to boost the onshore gas industry in Morocco by meeting the country’s growing energy demand. This agreement will allow Chariot to supply up to 3 million cubic feet of gas per day (or approximately 30 million cubic meters per year) to an entity specially created for the marketing of Compressed Natural Gas (CNG).
Chariot owns 75% of the Loukos license, with the Office National des Hydrocarbures et des Mines (ONHYM) owning the remaining 25%. The company recently concluded its first drilling campaign on this site and is preparing to test the flow rate of the OBA-1 well. The Loukos license also contains unexploited gas resources, offering additional production potential. Currently, seismic and drilling data are being analyzed to better evaluate these resources.
Vivo Energy, with a network of more than 400 service stations in Morocco, will play a crucial role in this partnership by taking charge of the design, financing, construction and operation of a CNG plant as well as a distribution network to transport gas to industrial customers. Chariot could hold up to 49% of the shares in this new operational entity dedicated to the development of CNG.
Both parties are currently working to finalize sales agreements. Pierre Raillard, Managing Director of Chariot Morocco, expressed his enthusiasm for the expansion of this collaboration, highlighting the mutual benefits for the partners and the development of the Moroccan gas network. He also discussed prospects for rapid commercialization of future Loukos production, development of existing gas fields and growth opportunities through future exploration.
This agreement between Chariot and Vivo Energy will not only meet Morocco’s growing energy needs, but also support the establishment of the necessary infrastructure for the packaging and transport of CNG, thus strengthening the country’s energy security and industrial development. .
