Chariot Oil & Gas signs MoU to Supply Gas in Morocco

Africa-focused exploration company Chariot Oil & Gas – and its partner the National Office for Hydrocarbons and Mines – have signed a Memorandum of Understanding (MoU) with the Ministry of Industry, Trade and Green and Digital Economy to become a local supplier of gas in Morocco, as well as develop the offshore Anchois gas field.

Located near the northern city of Larache, the Anchois field has proven to contain significantly higher gas reserves than previously estimated – exceeding one trillion cubic feet – and could serve as a major supplier of gas to the domestic market.

“We continue to hold the view that this asset has the capacity to be a value accretive and long-term project of national significance to Morocco,” said Adonis Pouroulis, Acting CEO, Chariot Oil & Gas.

The company aims to create job opportunities and promote regional integration through the development, while generating clean energy for the industrial sector and decarbonizing the national economy.

“[Morocco continues] to support the development of domestic gas prospects to support the fast-growing industrial sector in [the country] and contribute to its global competitiveness by providing a cheap, clean and reliable source of energy,” added H.E. Moulay Hafid Elalamy, Minister of Industry, Trade and Green and Digital Economy.

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