Thursday 15 March 2018

JV partner Chariot Oil & Gas, the Atlantic margins focused oil and gas exploration company, has announced that the Saipem 12000, a sixth generation ultra-deepwater drillship, has commenced drilling the Rabat Deep-1 well (RD-1) on the Eni-operated Rabat Deep Permits offshore Morocco (Eni Maroc 40% (operator), Woodside Energy (Morocco) 25%, ONHYM 25%, ChariotOil & Gas Investments (Morocco) 10%).

Operations are expected to take approx. 50 days and further announcements will be made as appropriate.

The well is targeting the JP-1 prospect, a large, four-way dip closed structure of approx. 200 sq kms areal extent, with Jurassic carbonate primary reservoir objectives and an independently audited gross mean prospective resource estimate of 768mmbbls. Eni partnered with Chariot in return for a capped carry on the drilling of the JP-1 prospect as well as a carry on other geological and administrative costs relating to Rabat Deep Offshore and a recovery of Chariot’s investment prior to farm-out.