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A metal & mining company, Chariot Ltd has initiated drilling operations at the Anchois gas project located offshore Morocco. The company has successfully mobilized the drillship to the project site, marking the commencement of drilling for the Anchois-3 well.
Drilling Objectives and Scope
The Anchois-3 well is designed to achieve several key objectives. A vertical pilot well will first be drilled to evaluate the Footwall prospect, which is estimated to contain 170 billion cubic feet (Bcf) of gas. Following this, a side-track will be made to further appraise the primary Anchois resource, which holds an estimated 637 Bcf of contingent resources. Additionally, the Anchois North Flank prospect, with an estimated 213 Bcf, will also be targeted during this campaign.
Testing and Future Prospects
Upon completion of drilling, flow testing will be conducted to assess the productivity of the well. The results of these tests will provide insights into the well's potential as a future production site. The entire operation is anticipated to take approximately two months to finalize.
Company Statement
Chariot (LSE:CHAR)’s Chief Executive, Adonis Pouroulis, expressed enthusiasm about the commencement of the Anchois-3 well. In a statement, Pouroulis noted, "We are very pleased to commence this highly anticipated well at the Anchois gas field. We see significant upside potential and value from the prospective resources in the pilot hole and main hole targets, which could increase the resource base to over 1 Tcf. We look forward to moving towards a Final Investment Decision as quickly as possible, contingent on the success of this campaign."
Ownership and License Information
The Anchois project is located within the Lixus Offshore license area and is 30% owned by Chariot Ltd. This development represents a significant step forward in Chariot’s ongoing exploration and appraisal efforts in the region.
Summary
Chariot Ltd has embarked on a new drilling campaign at its Anchois gas project, with the Anchois-3 well now underway. The campaign includes drilling a vertical pilot well and a side-track to evaluate multiple prospects, including the Footwall, main Anchois resource, and Anchois North Flank. Flow testing will follow the drilling phase, and operations are expected to conclude in approximately two months.
