In return, the company will take on the work commitments and obligations of the initial exploration phase for each licence.
The 1,925km2 size Loukos licence locates about 50km offshore with water depths between 5m and 110m however, with water depths between 5m and 165m, the Casablanca/Safi licence is 3,500km2 in size.
Chariot CEO Paul Welch said, "The Loukos and Casablanca areas have been of interest to Chariot for some time and we are pleased to have these additional assets, which we consider to hold significant potential, as part of our broader West African portfolio."
The deal is a subject matter to the official approval from the Moroccan authorities and on approval, Chariot will hold a 75 % equity interest in the Loukos and Casablanca/Safi exploration permits.
The Office National des Hydrocarbures et des Mines holding will own the remaining 25%, the company said.
The company will reprocess a total of 2,035km including, 835km of 2D seismic data within the Loukos licence and 1,200km of 2D seismic data within the Casablanca/Safi licence, within a six month exploration period.
Chariot will also have the option to move forward into further exploration phases which would involve the acquisition of 3D seismic data and the subsequent undertaking of exploration drilling activities.
