Gas resources off the coast of Larache, north of Morocco, are proving to be larger than expected, according to Chariot oil, the company conducting hydrocarbon explorations as part of the Anchois exploration.
Chariot announced on Wednesday the results of the independent exploration of the Anchois discovery offshore Larache, which had been confirmed during drilling carried out between December 2021 and January 2022.
Netherland Sewell & Associates Inc. carried out the certification on the Anchois gas field and other selected exploration prospects in the Lixus Offshore license and the adjacent Rissana Offshore license with upgrades of the reported material resources in the whole portfolio.
This shows a significant increase in gas resources offshore Morocco, as the Anchois gas field noted an “82% increase in 1C contingent resources from 201 Bcf to 365 Bcf.”
In other words, 1C resources, equating to a low estimate, increased from 5.7 billion to 10.2 billion cubic meters. While 2C contingent resources increased by 76% from 361 Bcf to 637 Bcf, 2C resources are the best or middle estimate. It, therefore, increases from 10 to 18 billion m3.
Pertaining to the additional Lixus prospects, updated assessments on two key undrilled prospects (Maquereau and Anchois West) with improvements in resource potential and geological probability of success and the newly identified Anguille prospect, all of which are part of the same tertiary gas play as the Anchois gas field.
The combined 2U prospective resources (best estimate potential) of 838 Bcf with an estimated probability of success ranging from 30% to 52%, with additional closely related targets in the surrounding areas.
The new Rissana offshore license acquired by Chariot has been covered to date by 3D seismic surveys providing a significant total prospective resource of up to 7 Tcf.
The company will accelerate its development by prioritizing the commercialization of the Moroccan market. This development concerns the exploitation of Anchois and the continuation of the exploration of other targets identified in the licenses held by the company.
In the first quarter of 2022, Chariot has also announced the signing of the Rissana offshore license, which surrounds Lixus.
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