Chariot Ltd (AIM:CHAR, OTC:OIGLF) has received the green light for its environmental impact assessment (EIA) for its upcoming drilling campaign on the Loukos licence, onshore Morocco.
It brings the planned drilling a step closer, with the company aiming to start drilling before the end of the first quarter.
The EIA approval from the Unified Regional Investment Committee, endorses Chariot’s plan covering the initial drilling of two exploration wells along with a further 17 candidate locations and the re-entry of an existing gas discovery.
Chariot said it can now begin civil works to prepare the initial well locations along with access routes.
"We are very pleased to receive approval of the environmental permit for drilling activity on our Loukos licence,” said Pierre Raillard, Chariot’s head of gas business and Morocco country director.
“This is not only an important step towards our initial drilling campaign but EIA approval for multiple additional locations gives us flexibility in future campaigns.
“In addition to this, the land access activities and civil work contracting have concluded, site construction activities are now underway and we are on track for commencement of operations around the end of the first quarter of 2024.”