Gide Cuatrecasas Casablanca has advised Chariot Oil & Gas Investments (Morocco) Limited, a subsidiary of Chariot Oil & Gas Limited, on the farmout of a 40% equity interest in, and operatorship of, the Rabat Deep Offshore exploration permits I-V, to Eni Maroc B.V., a wholly owned subsidiary of Eni. The agreement has just been approved by the Moroccan Authorities, and pertains to the off-shore area named Rabat Deep Offshore, off the coast of Rabat, Morocco. This license area is located approximately 30 kilometres offshore to the west of Rabat with average water depths ranging from 150 to 3,500 meters.
Chariot Oil & Gas Limited is an independent oil and gas exploration group. It holds licences covering four blocks in Namibia, two blocks in Morocco and four licences in the Barreirinhas Basin offshore Brazil. All of these blocks are currently in the exploration phase.
Chariot Oil & Gas Investments (Morocco) Limited was advised by Gide Cuatrecasas Casablanca with a team composed of partner Wacef Bentaibi and associate Loris Marghieri.
Wacef Bentaibi, partner, commented: “Our firm is regularly involved in Oil & Gas transactions in Morocco and the wider MENA region. This operation showcases the growing interest of major international oil companies in Morocco, and the acceleration of deep water prospecting activities in the country.”