Licence Overview - Morocco

Mohammedia and Kenitra are situated from the coastline to up to 50km offshore North Morocco and cover a combined area of c 6,050km2.

Chariot is partnered with the Office National des Hydrocarbures et des Mines (“ONHYM”) which holds a 25% carried interest in all licence areas. Chariot holds 75% equity and operatorship.

  • Work Programme: The acquisition of 1,400kmof 3D seismic has fulfilled all work commitments in each of the Company’s Moroccan licences during their current periods of exploration
  • Drilling anticipated 2019-2020 subject to partnering
  • Water depths range from 50m-1,400m throughout the licences
Asset Licence Operator Interest % Status Phase Licence Area km2
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

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