Petroleum Africa
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Thursday, March 31, 2016
ENI has gained access to its second new asset this week, this time in Morocco. The company signed an agreement with Chariot Oil & Gas to farm-in to a stake in the Rabat Deep Offshore exploration permits I-VI.
The completion of this agreement is subject to the authorization of the Moroccan authorities, to current partners’ approval and other conditions precedent.
The agreement provides the operatorship to ENI and a 40% stake of the license as well as the exploration rights over an area of 10,780 sq km. The acreage lies in water depths ranging from 150 to 3,500 meters, so far unexplored and with the prospect of finding liquid hydrocarbons.
At completion of the agreement the license will include: ENI (Operator, 40%), Woodside (25%), Chariot (10%) and the Office National des Hydrocarbures et des Mines (ONHYM, 25%).
Earlier this week the company announced that it had gained access to a new asset offshore Ghana, the Cape Three Points Block 4.
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