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Chariot Oil & Gas inks collaboration to fast-track gas project to production

"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," Adonis Pouroulis said

Chariot Oil and Gas Limited - Chariot Oil & Gas inks collaboration to fast-track gas project to production

Chariot Oil & Gas Limited (LON:CHAR) has inked a collaboration agreement with Subsea Integration Alliance for the Anchois gas development project in Morocco.

They will take a ‘one team’ approach to fast-track the project to first gas, the company said.

Together they will work on the front-end design, engineering, procurement, construction, installation and operation of Anchois, it added.

"This collaboration agreement with Subsea Integration Alliance further endorses our view that the Anchois development is a high value project,” said Adonis Pouroulis, acting Chariot chief executive.

“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.”

Pouroulis added: “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."

Quick facts: Chariot Oil and Gas Limited

Price: 10.525 GBX

AIM:CHAR
Market: AIM
Market Cap: £40.88 m
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