AIM-listed Chariot, the Africa focused transitional energy company, has announced that it has now completed the Front-End Engineering and Design ('FEED') on the key components of its flagship Anchois gas development project, offshore Morocco
The Anchois gas field is located within the Lixus Offshore licence area, in which Chariot holds a 75% interest and operatorship, alongside ONHYM which holds a 25% interest.
The FEED for the Anchois development was initiated in June 2022. In conjunction with the subsurface development studies, this work confirms the individual components of the initial development, which includes:
* Three initial subsea producer wells, including the Anchois-2 well drilled by Chariot in 2022, with multi zone completions to enable gas recovery across multiple stacked sands;
* Subsea infrastructure ("SURF" and "SPS") capable of delivering produced hydrocarbons from the wells to the onshore facilities via a subsea flowline and controlling the wells via an umbilical, with future expansion capabilities to tie-back additional wells;
* Onshore central processing facility ("CPF") to process the hydrocarbons and to deliver treated gas and condensate to market, with an initial capacity of 105 mmscfd; and
* Onshore gas pipeline to deliver the gas to the anchor gas offtakers via the Maghreb Europe Gas Pipeline ("GME"), for which a tie-in agreement has already been signed.
Engineering, Procurement and Construction ("EPC") commercial proposals have now been requested.
Adonis Pouroulis, CEO, commented, "We have made excellent progress across all aspects of our planned development for Anchois and detailed discussions on partnering, gas sales agreements and project finance continue concurrently as we move towards Final Investment Decision.
"The conclusion of the FEED stage, largely performed by the Subsea Integration Alliance (“SIA”), is an important step in defining the initial development plan to deliver gas to our anchor customers. In conjunction with the Field Development Plan and Environmental and Social Impact Assessment work completed to date, we have further cemented the viability and commercial potential of the development, founded upon its excellent reservoir and gas properties, favourable location with regards to existing infrastructure and the opportunity to leverage off existing, conventional technology. We remain fully focused on taking the Anchois project to first gas in a way that can continually grow the resource and project scale and help unlock the basin scale potential that we see across our licence area," concluded Pouroulis.