Atlantic Margin-focused Chariot Oil & Gas Ltd. has upgraded remaining recoverable resources at the Anchois discovery and firmed up additional prospects offshore Morocco, following completion of an independent competent persons report (CPR).

The company said its Anchois-1 gas discovery and neighboring prospects contain more than 1 trillion cubic feet of remaining recoverable resource. The report, conducted by Netherland Sewell & Associates, also confirmed Anchois North as a “low risk priority satellite prospect” that could contain 308 billion cubic feet of prospective resources with a 43% probability of geological success.

Chariot said Anchois is in “Tertiary-aged turbidite reservoirs that occur above a nappe emplaced during the Alpine orogeny and the pay sands have a characteristic and anomalous seismic signature.” Five satellite prospects, all with tieback potential, have been identified.

In addition, another CPR will be carried out on five more prospects in the Lixus license after the 3-D seismic reprocessing project is complete, Chariot said. The Lixus license spans about 2,390 sq km with water depths up to 850 m.

“This independent third-party evaluation confirms that the Anchois discovery and its nearby satellite prospects presents Chariot with an exciting and commercially attractive development opportunity,” Chariot CEO Larry Bottomley said in the news release. “The combination of a de-risked resource base in a fast-growing energy market, with high gas prices and a need for increased supply is highly attractive to a wide range of strategic partners throughout the energy value chain.”

Offshore