The Ministry of Energy Transition and Sustainable Development, in coordination with the Ministry of Economy and Finance, has extended the exploration periods granted to Chariot Energy for the Loukos and Rissana licenses by an additional 12 months, in a move aimed at providing more time to deepen research activities and assess natural gas potential.
The onshore Loukos license covers an area of approximately 1,370 square kilometers, with previous estimates indicating around 453 million cubic meters of discovered gas, out of a total potential of 2.83 billion cubic meters. In 2024, the company drilled two exploration wells—RZK-1 and OBA-1—with the latter showing positive indications. Under the new decision, the exploration period, which began in September 2023 and was originally set to end in March 2025, has been extended until March 2, 2026, with adjustments to the timeline, work programs, and a reduction in complementary phases.
The offshore Rissana license spans a vast area of 8,488.60 square kilometers, stretching from Asilah in the north to Kenitra in the south, and includes promising gas reserve sites. It is adjacent to the Lixus license, which contains the Anchois field known for reserves of around 18 billion cubic meters. The ministry has decided to extend the initial exploration period for Rissana until November 18, 2025, while shortening one of the complementary phases and modifying the technical program.
Chariot Energy was able to regain its previous stakes in the Lixus and Rissana licenses from Energean, thus restoring full control over these energy projects. The company had previously announced that it now holds a 75% stake in each of the two licenses, while the National Office of Hydrocarbons and Mines (ONHYM) maintains a 25% share.
This return to a leading position marks a critical milestone in Chariot’s strategy in Morocco. The company’s CEO had earlier stressed that they see substantial value in their diversified portfolio, whether in onshore or offshore projects, and affirmed their commitment to advancing the evaluation of the gas exploration project’s development roadmap in close cooperation with the Ministry of Energy Transition.
