Chariot, Vivo Team Up For Moroccan Gas-To-Industry Project

Chariot Limited has entered into a partnership 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 across several sectors in the country.

Chariot said that the objectives of the partnership would be to implement a gas-to-industry business in Morocco through the development of marketing and commercialization of natural gas to industrial customers as well as establish a jointly owned special purpose vehicle for the purchase, transportation, 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 the future gas production from the Anchois development project.

“We are delighted to be partnering with Vivo Energy, a company that has an extensive footprint in Morocco and the African continent, to develop and deliver a long-term supply of natural gas across the rapidly growing industrial sector in the country,” Adonis Pouroulis, Chariot CEO, said.

“Morocco’s significant industrial gas demand, which this partnership will supply into, further supports the commercial viability of the Anchois project. This agreement confirms the priority given by Chariot to the Moroccan energy market, expands upon our other existing sales negotiations around future offtakes for the gas from the Anchois gas field, and sets out a collaborative partnership with one of the continent’s leading energy distributors, as we continue to develop this high margin low-risk asset,” he further stated.

“We are very pleased to be entering into this partnership. We will work closely with Chariot to jointly leverage our position in Morocco, allowing us to offer a cleaner and more competitive energy source for our industrial customers,” Stan Mittelman, Vivo Energy CEO, said.

“Further development of the country’s mid and downstream infrastructure will also facilitate the distribution and increased use of this important domestic resource over the longer term as the 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 towards becoming a less carbon-intensive economy, and supporting its export strategy,” Mittelman added.

“Partnering with Vivo Energy to deliver this gas to industry creates additional scope for future production from Anchois. 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 be working together to deliver this important domestic resource directly into the country’s gas-hungry industrial sector,” Pierre Raillard, Chariot Morocco Managing Director, concluded.

The Anchois field lies in the Lixus Offshore license which covers an area of approximately 1,794 square kilometers (692.6 square miles) in water depths ranging from the coastline to 850 meters (2,790 feet). Five exploration wells have been drilled in the license including the Anchois-1 and Anchois-2 discovery wells.

The most recent updated assessments from 2022 stated that the Anchois gas field reserves now stand at 637 Bcf 2C contingent resources and 754 Bcf 2U prospective resources.

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