Chariot Limited inked a preliminary gas sales agreement with what’s described as a leading international energy group ahead of the proposed development of the Anchois project offshore Morocco.
A memorandum of understanding has been signed related to possible key terms for the gas offtake and partnering deal, Chariot said in a statement.
The agreement envisages future gas sales agreements will be for 40mln cubic feet per day for up to 20 years, on a take or pay basis, which is expected to underpin the proposed field development.
"Ahead of our highly anticipated Anchois gas appraisal well in December I am very pleased to announce this MOU on gas sales and partnering,” said acting chief executive Adonis Pouroulis.
“Along with the recent high international gas prices, this agreement clearly demonstrates that there is significant demand to underpin the Anchois gas development.
“This agreement will help expedite the development of this value accretive gas project, for the benefit of all stakeholders."
Chariot said it will now advance further talks with the third-party with a view to signing final agreements in a timeframe that’s in line with the project’s targeted final investment decision in 2022 to enable ‘first gas’ by 2024.