London-listed company Energean has announced the abandonment of the Anchois gas field development off the coast of Morocco following a drilling campaign described as “disappointing.” This was confirmed by Energean’s CEO, Mathios Rigas, in an interview with the journal Upstream.
The initial results from the Anchois-3 well, made public in September, revealed gas volumes below expectations. Chariot Energy, the project’s partner, had indicated that the gas layers identified in some sand formations were thinner than anticipated, while deeper targets only contained water. “We found gas, but not in sufficient quantities to justify the economic development of the project,” stated Mr. Rigas.
Insufficient Reserves for Now
The Anchois-3 well was part of a campaign aimed at confirming resources in the Gharb Basin, where turbidite sand formations serve as the primary reservoirs. Although these formations were identified as potentially gas-rich, the test results were inconsistent. Petrophysical analyses showed insufficient porosity in some layers, limiting production capacity.
Moreover, the exploratory targets beneath these formations mainly revealed aquifers, further reducing the overall potential of the field. The lack of sufficient hydraulic connectivity between the reservoirs also complicates the establishment of an effective drainage system.
The decision to abandon the Anchois project does not hinder Morocco’s efforts to enhance its energy independence through local gas resources. Additionally, Energean emphasized that this decision will not impact its other operations in the Mediterranean where the company continues to exploit prolific fields.
Future strategy for the Gharb Basin might include technological partnerships or the use of advanced stimulation techniques to revitalize the identified low-yield reservoirs. However, the economic conditions and the low reserve-to-operating-cost ratio make such a scenario unlikely in the short term.
