Eni in deal to explore deep offshore drilling in Morocco
RABAT, March 31, 2016
Eni, an Italian oil and gas company, has signed a deal with Chariot Oil and Gas to explore deep offshore exploration permits I-VI granted by Rabat and located in the Northern Atlantic Margin of Morocco, according to a report.
Under the agreement, Eni will become the main operator of the drilling sites and get a 40 per cent stake of the license as well as exploration rights across a 10,780-sq-km area, said the Morocco World News report.
Eni expects to find liquid hydrocarbons at the sites included in the permits, it said.
For the agreement to be completed, Moroccan authorities, as well as other partners must approve the deal.
On approval, the license will include Eni, Woodside Petroleum with 25 per cent, Chariot with 10 per cent and the Moroccan National Office for Hydrocarbons and Mines with 25 per cent, the report added.
