Chariot Oil & Gas Limited, the independent Africa focused oil and gas exploration company, announces that the Contract regarding the Block C19 concession offshore Mauritania, as announced on 10 April 2012, has been approved by the Government of the Islamic Republic of Mauritania and is now effective.
Block C19 is a highly attractive addition to Chariot’s existing offshore West Africa portfolio. The block is located 30km off the coast of Mauritania with water depths ranging from 5m to 2,100m. Like Chariot’s Namibian portfolio, it is in an area where petroleum systems are proven but exploration is very immature. Also, as in Namibia, Mauritania offers a favourable working environment, fair fiscal terms and a developed, stable resource sector.
[mappress] Subsea World News Staff , April 13, 2012; Image: Chariot