Chariot Ltd (listed on AIM:CHAR and OTC:OIGLF) has successfully obtained approval for its Environmental Impact Assessment (EIA) for the upcoming drilling campaign on the Loukos license in onshore Morocco.
This approval moves the planned drilling forward, with the company targeting to commence drilling before the end of the first quarter.
The EIA approval, granted by the Unified Regional Investment Committee, supports Chariot’s proposal, which includes the initial drilling of two exploration wells, the potential for 17 additional locations, and the re-entry into an existing gas discovery.
· The EIA covers a total of 20 well operations, including:
o Initial drilling campaign of 2 exploration wells on the Gaufrette and Dartois prospects
o Further 17 candidate well locations
o Re-entry of an existing gas discovery
· The permit is valid for a period of 5 years
· Civil works will now commence to prepare the first well locations and access routes
Following this approval, Chariot is set to start civil works for preparing the initial well sites and access paths.
Pierre Raillard, Chariot’s Head of Gas Business and Morocco Country Director, expressed his satisfaction, stating, “We are very pleased to receive approval of the environmental permit for drilling activity on our Loukos licence.
This marks a crucial step towards our initial drilling campaign, and the EIA approval for multiple additional locations offers us flexibility for future campaigns.
Moreover, with the completion of land access activities and civil work contracting, site construction activities have commenced, and we are on schedule to begin operations around the end of the first quarter of 2024.”
