Chariot Signs MoU with Morocco

Chariot Signs MoU with Morocco

Chariot Oil & Gas Limited (AIM: CHAR), announced that it has signed a Memorandum of Understanding (“MOU”) along with its partner the Office National des Hydrocarbures et des Mines (“ONHYM”) with the Ministry of Industry, Trade and Green and Digital Economy (“Ministry”) in Morocco (the “Parties”). The MOU relates to the Ministry’s support of Chariot and ONHYM’s Anchois Gas Development project as a potential provider of significant gas to the Moroccan gas market.


The MOU states that the Ministry will support the Anchois Gas Development to enhance job creation, regional integration through the development of strategic infrastructure and the promotion of clean and competitive energy for consumption by the Moroccan industrial sector.


This reflects the Ministry’s active promotion of the use of natural gas extracted in Morocco to help the Kingdom of Morocco meet its key national strategy of industrial development, the decarbonisation of its economy, diversification of the energy mix and the reduction of its dependence on imported fuels.


The Parties will forthwith progress discussions with the view to signing further agreements with the Ministry or other Moroccan authorities to implement the Anchois Gas Development.


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