Morocco

In December 2023, Energean farmed into Morocco’s largest undeveloped discovery, the offshore 18 Bcm Anchois gas development. Energean acquired 45% W.I. in the Lixus offshore licence (Anchois gas development), with the option to increase to 55% W.I. post-drilling results, and 37.5% W.I. in the Rissana licence, and is the operator for both licences. The completion of the transaction is subject to government approval. The move into Morocco is fully aligned with Energean’s Mediterranean, gas-focused strategy, adding resource to the portfolio, and opening new gas sales markets. With both significant upside of around 21 Bcm gross unrisked prospective resources in undrilled sands, and growing local and export demand for natural gas, the project has long term growth potential. Energean works in partnership with both AIM-listed Chariot and the Moroccan NOC, ONHYM, and looks forward to meeting the demand for natural gas both in Morocco and beyond.