Moroccan mountain range

licence overview – morocco

Rabat Deep and Mohammedia  are situated up to 50km offshore North Morocco and cover a combined area of just over 15,500km2.

Chariot is partnered with the Office National des Hydrocarbures et des Mines ("ONHYM") which holds a 25% carried interest in the Mohammedia and Rabat Deep licence areas. In Rabat Deep, Chariot is also partnered with Woodside (25%)and Eni (40%, operator)

  • 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 Mohammedia
  • Water depths range from 145m-3,815m on the Rabat Deep licence and are less than 500m on Mohammedia
  • 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 Chariot Oil & Gas Investments (Morocco) Limited

10

Exploration 10,782
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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