Petroleum Africa
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Wednesday, October 17, 2018
Sound Energy received ministerial approval in Morocco for its new eight-year Greater Tendrara Petroleum Agreement. The new Greater Tendrara Petroleum Agreement covers an area of approximately 14,500 sq km extending across eastern Morocco and surrounding the 133.5 sq km development concession area relating to the Tendrara gas discovery.
It also unites the areas covered by the Tendrara petroleum agreement granted in April 2013 and the Matarka reconnaissance license granted in July 2017.
The Greater Tendrara Petroleum Agreement is in addition to the existing Anoual petroleum agreement and the recently awarded production concession relating to the Tendrara gas discovery.
Sound Energy now holds an operated 47.5% operated position in the Greater Tendrara Petroleum Agreement. The remaining 52.5% will be respectively held by Schlumberger (27.5%) and ONHYM (25%).
The Greater Tendrara Petroleum Agreement has a duration of eight years from award and is divided into three phases, with each phase having pre-agreed work commitments.
James Parsons, Sound Energy’s CEO, commented, “I am delighted to announce receipt of approval from the Moroccan Energy and Finance Ministries for the Greater Tendrara petroleum agreement and that, as a result, the Greater Tendrara petroleum agreement has now become effective – securing Sound Energy’s rights to this potentially transformational acreage up to 2026. We look forward to commencement of our exploration drilling program in the near future.”
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