Chariot Limited has signed a collaboration agreement with Vivo Energy to create a midstream joint venture that will oversee the distribution of natural gas to industrial customers in Morocco.
Vivo Energy has a long-standing presence in Morocco’s petroleum products sector, operating a network of over 400 service stations and supplying commercial and industrial customers in various sectors of the country.
Chariot said the goals of the partnership would be to implement an industrial gas business in Morocco by developing the marketing and commercialization of natural gas to industrial customers, as well as establishing a jointly owned special purpose vehicle for the purchase, transport and distribution of natural gas to end users.
The company added that the JV will also put in place a long-term gas sales agreement for a portion of future gas production from the Anchois development project.
“We are delighted to partner with Vivo Energy, a company that has an extensive footprint in Morocco and the African continent, to develop and provide a long-term supply of natural gas to the country’s rapidly growing industrial sector,” Adonis Pouroulis . , said Chariot’s CEO.
“The significant demand for industrial gas from Morocco, which this partnership will supply, further supports the commercial viability of the Anchois project. This agreement confirms the priority given by Chariot to the Moroccan energy market, expands our other existing sales negotiations on future gas extractions from the Anchois gas field and establishes a collaboration with one of the main energy distributors on the continent, as to continue developing this low-risk, high-margin asset,” he said.
“We are very pleased to enter into this partnership. We will work closely with Chariot to jointly leverage our position in Morocco, enabling us to provide a cleaner and more competitive energy source for our industrial customers,” said Stan Mittelman, CEO of Vivo Energy.
“Further development of the country’s midstream and downstream infrastructure will also facilitate the distribution and increased use of this important long-term domestic resource as industrial gas markets continue to mature. We are confident that the development of the Anchois field, combined with the advancement of Morocco’s gas market, will further accelerate the country’s industrial roadmap to become a less carbon-intensive economy and support its strategy of export,” Mittelman added.
“Partnering with Vivo Energy to deliver this gas to the industry creates additional margin for future Anchois production. A key part of our strategy in Morocco is to promote energy self-sufficiency and be a catalyst for growth and we are very pleased to work together to deliver this important national resource directly to the country’s gas-hungry industrial sector,” Pierre Raillard. Concludes the CEO of Chariot Morocco.
The Anchois field is located on Lixus Offshore’s license covering an area of approximately 1,794 square kilometers (692.6 square miles) with water depths ranging from the shoreline to 850 meters (2,790 feet ). Five exploration wells have been drilled on the licence, including the discovery wells Anchois-1 and Anchois-2.
The most recent updated 2022 assessments indicated that the reserves of the Anchois gas field now stand at 637 Bcf 2C of contingent resources and 754 Bcf 2U of prospective resources.
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