Chariot Ltd (AIM:CHAR, OTC:OIGLF, FRA:C62) has signed a contract with Stena Drilling, one of the world's foremost independent drilling contractors, to use its Stena Don drilling rig for the planned Anchois gas appraisal well within the Lixus licence, offshore Morocco.
Drilling operations are anticipated to commence in December 2021 and are expected to take up to approximately 40 days.
Stena Don is a semi-submersible rig, suitable for drilling, completion, and workover operations.
The objectives of the drilling are to unlock the development of the discovered sands by confirming the gas resource volumes, reservoir quality and well productivity, to provide a future production well for the development of the field, and potentially to deepen the well with the aim of establishing a larger resource base for longer term growth.
"The signing of this contract is an important moment in our planned drilling campaign for the Lixus licence, offshore Morocco,” said Chariot’s acting chief executive Adonis Pouroulis.
“We anticipate drilling commencing in December, with the well expected to take up to 40 days to drill. As a team, we have been keenly focused on delivering the drilling campaign that we recently raised money for, and we are pleased that this contract award brings us a step closer to achieving this. We look forward to keeping our stakeholders appraised we get closer to the spud date."