- Operator, 55% equity position (Cairn Energy 35% equity interest and SMHPM 10% equity interest)
- Near zero cost option in an established basin
- Block C-19 located in proximity to hydrocarbon producing region - oil shows in licence area with 4
- 3,500km² 3D seismic acquired, processed and interpreted: no remaining commitments
- Priority prospect with gross mean prospective resources of 431mmbbls* - drill ready, subject to acquiring partners
The Company acquired Block C-19 offshore Mauritania in April 2012 and holds the licence through its wholly owned subsidiary Chariot Oil & Gas Investments (Mauritania) Limited. This acquisition was in line with Chariot’s strategy of looking to unlock further potential in the deepwater Atlantic margins and balance the portfolio by securing another asset in a proven hydrocarbon province.
Whilst Mauritania is an established oil producing region, it is still relatively underexplored and Chariot considers this to be a highly desirable region for oil and gas exploration. The Company’s acreage was acquired prior to other major industry explorers and Chariot fast-tracked its exploration here with a 3,500km² seismic acquisition programme which has been completed and processed. Chariot is partnered on this block with Cairn Energy.
With oil shows present in the licence area from previous drilling and being nearby to other oil discoveries, Chariot considers this asset to have giant play potential.
*NSAI estimate of Gross Mean Prospective Resources