MOROCCO – Chariot Oil & Gas Ltd, an Africa-focussed transition energy company, has signed a collaboration agreement with Subsea Integration Alliance to work together to enable the front-end design, engineering, procurement, construction, installation and operation of the Anchois Gas Development project in Morocco.

Subsea Integration Alliance is a non-incorporated strategic global alliance between Subsea 7 and OneSubsea, the subsea technologies, production and processing systems division of Schlumberger.

Chariot and Subsea Integration Alliance will adopt a “One-team,” integrated and collaborative approach to safely fast-track first gas to maximise the return on investment.

“We are pleased to be starting a journey with Chariot on the exciting Anchois gas development in Morocco. We believe the Subsea Integration Alliance “One-team” collaboration with Chariot will help unlock the planning and execution of the development and uncover the true value of the project for all stakeholders,” Stuart Fitzgerald, CEO, Subsea Integration Alliance, commented.

The scope of the agreement covered front-end engineering support and engineering design work, as well and the engineering, procurement, construction, installation, pre-commissioning and commissioning work.

“This collaboration agreement with Subsea Integration Alliance further endorses our view that the Anchois development is a high value project,” Adonis Pouroulis, acting CEO, Chariot Oil & Gas Ltd, commented.

“With the recent announcement on potential project finance, Chariot is clearly showing that it is delivering on what it said it would do, namely, advancing the commerciality of the Lixus asset and generating value to shareholders in the process.”

It also covered operations and maintenance of the facilities, and a commitment to environmental and social government and the importance of contributing to social development through the creation of direct and indirect jobs in Morocco.

“We believe that 2021 will be an exciting year for the business, as we look to commence with our operational plans at Anchois and further enhance our portfolio to include other commercial opportunities along the theme of energy transition. We look forward to keeping our investors updated on progress with these initiatives over the coming months,” Pouroulis added.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE HERE

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.