Mauritanian shoreline

licence overview – mauritania

C-19 is held by Chariot's wholly owned subsidiary, Chariot Oil & Gas Investments (Mauritania) Limited,which has a 90% interest and operatorship in offshore Block C-19 and, covers an area of 12,175km², 30km off the coast of Mauritania. The Company has farmed down its equity stake to Cairn Energy Plc and is now partnered with Capricorn Oil Limited (a wholly owned subsidiary of Cairn), which holds a 35% equity interest, and the Société Mauritanienne des Hydrocarbures et de Patrimoine Minier ("SMHPM"), the National Oil Company of Mauritania, which participates with a 10% carried interest.

Since Chariot’s entry into the region, a number of large industry players have acquired acreage, with recent activity identifying a new oil play in Late Cretaceous turbidites as well as two significant gas discoveries reported from the Tortue and Marsouin wells. This third party exploration provides significant insight into Chariot’s own blocks of interest.

  • Block C-19 is a highly attractive part of Chariot’s offshore Atlantic margin portfolio
  • Work Programme: All licence commitments fulfilled in the current period of exploration
  • 12,175km2 of 3D seismic acquired and seabed coring completed, partnering ongoing
  • Other operators in the region include Tullow Oil, Total and Kosmos Energy
  • Water depths range from 5m to 2,100m
  • Mauritania offers a favourable working environment, fair fiscal terms and a developed, stable resource sector
Asset Licence Operator Interest % Status Phase Licence Area km2
Block C-19 C-19 Chariot Oil & Gas Investments (Mauritania) Limited 55 Exploration 12,175

Taxation of oil production:

  • 27% corporation tax
  • Cost/profit oil split based on "R" factor