Eni Enters Offshore Morocco Exploration Permits

Eni has signed a farm-in agreement with Chariot Oil & Gas to enter into Rabat Deep Offshore exploration permits I-VI, located in the Northern Atlantic Margin of Morocco.

The agreement, which is subject to the authorization of the Moroccan authorities, would see Eni secure a 40 percent operated interest in the permits and the exploration rights over an area of 4,162 square miles. 

Commenting on the deal, Eni stated in a company release:

“This agreement will enable Eni to expand its presence in the Atlantic Margin of an important region such as the North Africa, in line with the company’s strategy aimed at diversifying its exploration portfolio in basins with high hydrocarbons potential.”

Following the completion of the agreement, Woodside would hold a 25 percent interest in the permits, as would the Office National des Hydrocarbures et des Mines, and Chariot would retain a 10 percent interest.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Zion Granted Approval to Drill Well On... (Dec 2)
 -  Production Drilling Begins at Mariner ... (Dec 2)
 -  Subsea 7 Secures Services Contract wit... (Dec 2)
 -  Eni: Oil Worker Dies Following Congo P... (Dec 2)
 -  FAR Refutes Claims that it cannot Farm... (Dec 1)


Most Popular Articles

From the Career Center
Jobs that may interest you
SharePoint Project Manager
Expertise: IT - Programming & Database|Project Management
Location: Houston, TX
 
Commercial Director - Terminals
Expertise: Business Development
Location: South Carolina, 
 
Asset Integrity Manager
Expertise: Asset Management|Project Management|QA / QC / Inspection
Location: Pasadena
 
search for more jobs

Brent Crude Oil : $54.46/BBL 0.96%
Light Crude Oil : $51.68/BBL 1.21%
Natural Gas : $3.44/MMBtu 1.99%
Updated in last 24 hours