Chariot Ltd (AIM:CHAR, OTC:OIGLF) told investors the Stena Don drilling rig is now being mobilised to the Anchois gas field in the Lixus licence offshore Morocco.
The rig is due to arrive by mid-December with drilling operations expected to start for an appraisal well shortly afterwards.
"We are excited for drilling operations to get underway at Anchois and we look forward to keeping the market updated on developments as appropriate," said chief executive Adonis Pouroulis.
Halliburton is contracted for project management, drilling and other well services at Anchois.
In October, Chariot announced it signed a preliminary gas sales agreement with what it described as a leading international energy group.
A memorandum of understanding was 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.
It was anticipated that Chariot would continue talks 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.