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 1,700kmof 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

Click image to enlarge