Chariot farm out deal with Eni approved

Chariot Oil & Gas says the farm-out signed between its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Ltd, and a wholly owned subsidiary of Eni, has now been approved for the Rabat Deep Offshore permits I-VI by the Moroccan authorities.

As a result of this approval, operatorship of these permits has been transferred to Eni.

The licence ownership is now as follows: Eni (operator, 40% equity interest), Woodside (25% equity interest), Chariot (10% equity interest) and Office National des Hydrocarbures et des Mines (25% carried interest).

Story provided by StockMarketWire.com

 

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