Eni signed today with Chariot Oil & Gas an agreement to acquire a shareholding (farm-out agreement) in exploration permits I-VI in the Rabat Deep Offshore license, located in the northern margin of the Atlantic in the waters of the Morocco. The completion of this agreement is subject to authorization by the Moroccan authorities, current partners and other conditions precedent. The agreement - explains a note - provides for the assignment to Eni of the role of operator and a 40% stake in the license as well as exploration rights over an area of 10.780 sq km and with a water depth ranging from 150 to 3.500 meters. The area, hitherto unexplored, is considered promising for the discovery of liquid hydrocarbons.
Upon completion of the agreement the composition of the license will be as follows: Eni (Operator, 40%), Woodside (25%), Chariot (10%) and Office National des Hydrocarbures et des Mines (ONHYM 25%). Following the agreement - continues the note - Eni will strengthen its presence in the Atlantic margin of an important region such as North Africa, in line with the company's strategy aimed at diversifying its portfolio in basins with high hydrocarbon potential.
