Africa-focused transitional energy group Chariot will kick off 2024 with its inaugural drilling campaign on its Loukos Licence onshore Morocco, according to an operational update issued last month. Headway has also been made at its Anchois gas development offshore Morocco, along with its 10 GW Project Nour in Mauritania and 40 MW solar project in South Africa. Following Chariot’s confirmed participation at Invest in African Energy (IAE) 2024 in Paris this May, the company will highlight key project milestones, while showcasing new opportunities in gas, power and hydrogen.
IAE 2024 is an exclusive forum designed to foster collaboration between European investors and African energy markets. Taking place on May 14–15, 2024, in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors, and policymakers. For more information, please visit www.invest-africa-energy.com.
Focused on high-value, low-risk gas development projects in Morocco, Chariot’s approach targets early monetization and robust cash flow. The Loukos license – operated by Chariot (75%), in partnership with Morocco’s national oil company, ONHYM (25%) – will see its first drilling campaign in Q1 2024, with the Gaufrette prospect – estimated to hold 26 billion cubic feet (bcf) of gas – as the primary drilling target. Preparations for the Dartois prospect – a second drilling target, potentially holding 20 bcf – are also underway. Chariot’s activities reflect the prospectivity of North Africa’s onshore acreage and align with IAE 2024’s goal to showcase African upstream opportunities.
Collaborating with E&P company Energean, Chariot has advanced its flagship Anchois gas development on the Lixus license offshore Morocco, with negotiations for an offshore drilling rig contract and services underway. With an estimated one trillion cubic feet of recoverable gas resources, the project holds the potential to transform Morocco’s energy security and self-sufficiency. Chariot and Energean aim to maximize project efficiency and success, contributing to sustainable energy development in the region.
Targeting transitional power projects, Chariot increased its stake to 49% in South African green energy supplier Etana Energy last December, aligning with its vision to promote sustainable energy solutions across Africa. Development of a 40 MW solar project at Tharisa Mine in South Africa is ongoing, after environmental approval for the project was secured last May.
Pioneering green hydrogen development across the continent, Chariot has completed feasibility studies at its 10 GW Project Nour in Mauritania and is awaiting government approval for Q1 2024. The company has partnered with local entities such as SNIM (Mauritanian National Mining Company), as well as TEH2, TotalEnergies and Eren Group for the project, facilitating skill and technology transfer and highlighting its commitment to inclusive growth.
As Chariot continues to innovate in sustainable energy production and distribution, its participation at the IAE 2024 forum – taking place in Paris on May 14-15 – provides a strategic opportunity to showcase project updates and solicit technical and service partnerships needed to advance projects further.
