Chariot Oil & Gas receives EOI for the provision of development debt finance for the Anchois gas discovery offshore Morocco

Chariot Oil & Gas receives EOI for the provision of development debt finance for the Anchois gas discovery offshore Morocco

AIM-listed Chariot Oil & Gas has received a non-binding Expression of Interest Letter (‘EOI’) from Africa Finance Corporation (‘AFC’), a pan-African Multilateral Development Financial Institution, for the provision of development debt finance for the Anchois Gas Discovery, located within the Lixus Offshore Licence, Morocco, and the development of future discoveries from the wider prospect portfolio of the Licence.

In addition, Chariot has received a non-binding EOI for the provision of Reserves Base Lending for the development of the Anchois Gas Discovery with a Multinational Investment Bank.

Both EOI’s take into account the estimated capex required to bring the development online, anticipated to be in the region of US$300-500 million, but they also identify Lixus as being an important strategic asset, with strong Environmental, Social and Governance (‘ESG’) credentials, that has the potential to help Morocco transition to a low carbon economy, as it seeks to satisfy an anticipated doubling in domestic demand for energy over the next 20 years.

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Source: Energypedia

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