Chariot Ltd (AIM:CHAR, OTC:OIGLF) has signed a front-end engineering and design (FEED) agreement with Schlumberger and Subsea 7, with the trio to form a consortium to fast-track the Anchois gas development project in Morocco.
Adonis Pouroulis, Chariot’s acting chief executive, added: "Signing this agreement with Schlumberger and Subsea 7 is further evidence that we have accelerated development plans for the Anchois Gas Project, a key tenet of our recent fundraising.
“Reduced interfaces, fewer contingencies, and strong leverage over procurement and the offshore construction schedule will help shorten time to first gas.”
The Subsea Integration Alliance will handle offshore components including well completions, subsea production systems and subsea umbilicals, risers and flowlines plus a central processing facility (CPF) onshore and flowlines and controls from the CPF to the shore crossing.
Chariot is managing the additional FEED scopes required for the development, such as well construction and onshore infrastructure, including fixed pipelines, to deliver gas to customers.
Chariot, Schlumberger and Subsea 7 will continue to adopt a "one-team" integrated and collaborative approach, said the statement today.