The new natural gas reservoir discovered in the Anchois well off the coast of Larache is of outstanding quality, according to Chariot Oil & Gas.

Chariot Oil & Gas, a British business, asserts that studies on these field wells found that methane gas will be present at more than 96 percent in the seven reservoirs, “without hazardous contaminants such as H2S or CO2,” allowing for “minimum treatment” of the gas in the development.

The results of the testing allow an upgrade to roughly 150 m, up from the preliminary analysis of more than 100 m previously revealed, and up from the 55 m estimated after the first discovery of the Anchois-1 well, according to the note.

The British oil company claims that, in its current form, the gas treatment will not necessitate a large investment because it can be done with “a single gas treatment facility.”

“Delighted to offer this extremely good update on the examination of well data obtained from our successful gas drilling campaign on the Anchois project,” stated Adonis Pouroulis, interim CEO of Chariot.

“Our objective is to bring Anchois gas development online rapidly, to fuel Morocco’s economic growth, but also to deliver short-term cash flow to our shareholders,” says Andonis Pouroulis. To the interest of all stakeholders, we will continue to work on an accelerated development plan for the site.”

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The British company Chariot has announced important discoveries of natural gas in the Larache coast, at the level of the “Anchois-2” field.

Chariot is pleased to announce that it has made a significant gas discovery at the Anchois-2 well, offshore Morocco. https://t.co/IhCc4yQjik

— Chariot Limited (@Chariot_Energy) January 10, 2022

This second-field process seeks to confirm the expectations associated with the potential for gas detection in these fields, which significantly raises the company’s natural gas shares.

National natural gas production is only 100 million cubic meters per year, and is extracted from small fields in both the West and the Essaouira, but this volume is not sufficient to fill the national needs currently estimated at 1 billion cubic meters per year.

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A senior Moroccan official said on Monday that Morocco is discussing with Spain the potential of reversing the flow of a gas pipeline if Algeria does not renew a supply arrangement that expires on October 31.

Reuters quoted the official, who asked not to be named, confirming local media reports, saying, “For Morocco, the pipeline is more of a tool for regional cooperation…we will not let it rust,”

He added that Morocco is in talks with Spain to use its LNG terminals to pass gas to Morocco using the same pipeline.

He continued: “This LNG will not compete with Spanish gas supplies. It will be an additional purchase ordered by Morocco which will pay the cost of the transit through Spanish terminals and the pipeline,”

He noted that Morocco also gave permits to gas importers in anticipation of Algeria not renewing the pipeline deal.

Algeria had earlier stated that it would not renew the deal to export gas through the 13.5 bcm pipeline that crosses Morocco, but would instead expand the Mediterranean Medgaz pipeline, which does not cross its neighbor, to a capacity of 10 bcm by December.

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