Woodside move into Morocco gets final thumbs up

Abstract

A farm-in by Woodside to deepwater permits in the frontier Doukkala Basin operated by Chariot Oil & Gas off the northwestern coast of Morocco has finally been approved by the country's authorities. The go-ahead for the deal on Rabat Deep Offshore Permits I-VI, agreed between the two companies mid-2014, will see Australian explorer Woodside pay 100% of the 3-D seismic acquisition and processing costs incurred across the acreage by Chariot, as well as other back costs. The majority of these costs have now been received by Chariot.