Moroccan Offshore: Going Nowhere Fast As Eni Hands Back Key Block

Having seen a key wildcat flop in early 2018, Eni is relinquishing the Rabat Deep block off Morocco, according to the Italian firm’s partner and the block’s former operator, London-listed minnow Chariot Oil & Gas.

Chariot says that though the Rabat Deep-1 well – “one of the largest prospects to be drilled anywhere in the world during 2018” – was unsuccessful, drilling indicated a new play which “significantly de-risks the clastic prospects and leads identified in the [Chariot’s neighboring] Mohammedia and Kenitra licenses.”

Chariot says it has “launched drilling preparations” for prospect ‘MOH-B’ on the Mohammedia license, and hopes to drill a Kenitra prospect back-to-back next year. But it will need to find a deep-pocketed partner to actually fund the work. And this will be an uphill task given that the Rabat Deep flop was just the latest in a series of failed Morocco offshore wells, mostly deepwater wells targeting gas.The Eni well was only the second drilled since 2015 after a string of half a dozen 2013-14 wildcats – all have been flops. (CONTINUED - 415 WORDS)