Petroleum Africa
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Friday, June 17, 2016
Chariot Oil & Gas has elected not to move forward into the First Renewal Phase on the C-19 License offshore Mauritania. While Chariot considers the acreage to be prospective, this decision to exit the acreage was made in line with the company’s strategy and focus on portfolio management and capital discipline.
The company acquired 3,500 sq km of proprietary 3D seismic data, undertook extensive reprocessing of legacy 2D seismic data and completed seabed coring to enable an integrated analysis and evaluation of the hydrocarbon potential and prospectivity of the C-19 block. The work undertaken by Chariot to de-risk this asset resulted in industry interest, with a number of partnering discussions reaching advanced stages, however these did not lead to a firm transaction within the defined timeframe.
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