Licence Overview - Morocco
Rabat Deep, Mohammedia and Kenitra are situated up to 50km offshore North Morocco and cover a combined area of c12,800km2.
Chariot is partnered with the Office National des Hydrocarbures et des Mines (“ONHYM”) which holds a 25% carried interest in all licence areas. In Rabat Deep, Chariot is also partnered with Woodside (25%) and Eni (40%, operator), whereas in Mohammedia and Kenitra, Chariot holds 75% equity and operatorship.
- Work Programme: The acquisition of 1,700km2 of 3D seismic, fulfilled all work commitments in each of the Company’s Moroccan licences during their current periods of exploration
- Seabed coring completed
- Drilling anticipated 2018 following completion of farm-out to Eni in Rabat Deep; Additional partnering on Mohammedia and Kenitra
- Water depths range from 50m-3,815m throughout the licences
- Other operators in country include Woodside, Chevron, Genel Energy, Kosmos Energy, Freeport-McMoRan, Repsol and ONHYM
|Asset||Licence||Operator||Interest %||Status Phase||Licence Area km2|
|Rabat Deep||Rabat Deep||Eni||10||Exploration||6,738|
|Mohammedia||Mohammedia||Chariot Oil & Gas Investments (Morocco) Limited||75||Exploration||4,654|
|Kenitra||Kenitra||Chariot Oil & Gas Investments (Morocco) Limited||75||Exploration||1,400|
Taxation of Oil Production:
- 30% corporation tax
- Royalty: oil 7–10%, gas 3.5–5%
- 10 year corporation tax holiday on discovery