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 1,400km2 of 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