The oil and gas exploration company said under the terms of the farm-out agreement, Woodside will acquire a 25% working interest in the Rabat Deep Offshore permits I-VI in
There is also an option for Woodside to fund the costs of an exploration well to an agreed cap for a further 25% equity interest and operatorship.
Chariot currently retains operatorship with a 50% equity interest, and ONHYM has the remaining 25% carried interest. ONHYM is the Office National des Hydrocarbures et des Mines, the state oil and mining company of
"As well as progressing our Moroccan acreage we will be using the funds from this farm-out to expedite our work programmes throughout the portfolio," said Chariot Chief Executive Officer
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