Morocco: Eni farms into Rabat Deep Offshore


Issue 321 - 15 Apr 2016 | 1 minute read

In a significant vote of confidence for Morocco’s exploration prospects despite the lack of success so far, Italy’s Eni has farmed into Chariot Oil & Gas’ Rabat Deep Offshore licence, taking a 40% operated stake. Eni will carry Chariot’s costs for a deep-water well on the JP-1 prospect, to an agreed cap, and will carry Chariot for other geological and administrative costs relating to work commitments in the next licence period. The farm-out is subject to approval by the Moroccan authorities. On completion, the shareholding will be Eni (40%, operator), Woodside (25%), Chariot (10%) and Office National des Hydrocarbures et des Mines (25% carried interest).

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