Ashurst advises Chariot on its partnership with Energean in Morocco

Global law firm Ashurst has advised long-standing client Chariot on its partnership with Energean, with Energean farming into the Lixus Offshore licences, where the Anchois gas development project is located, and the Rissana Offshore licences in Morocco.

Chariot is an Africa-focused transitional energy group while Energean is a FTSE 250 E&P company.

As part of the agreement, Energean will receive a 45% stake in Lixus and a 37.5% stake in Rissana, while Chariot will retain a material stake in both assets.

The team was led by partners Yann Alix and Tom Mercer, supported by senior associates Claudia Cicone and Maria McAlister and tax partner Nicholas Gardner and tax associate Luis de Freitas.

Commenting on the deal, Yann Alix said: "We are delighted to have assisted Chariot on this important transaction, which marks a key step on the exciting road towards the development of Morocco's largest uncommercialised gas discovery."