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Tuesday, February 16, 2016
Ground works have commenced on the site of Sound Energy’s first well site on Morocco’s Tendrara License. The company reported that all contracts for the well have been awarded and confirmed that civil works on site have now commenced. This includes the upgrading of local infrastructure which will be followed by the preparation of the camp and the two well pad areas.
The company also confirmed that all contracts associated with the drilling of the first appraisal well at Tendrara have now been awarded. The contracts awarded include a binding rig contract with Saipem for a National 110 UE (1500 HP) traditional rig. The rig is currently being prepared for mobilization from Mauritania, which is expected to begin later this month.
Under a field management agreement (FMA) Schlumberger has agreed to fund 80% of the capital expenditure of the first Tendrara appraisal well, with Sound Energy only being required to fund 20%. The first well, located some 2.4 km northeast of the previously successfully drilled TE5 well, is expected to cost around £9.2 million (100%).
James Parsons, Sound Energy’s CEO, commented: “We expect our first Moroccan well to demonstrate that we can secure commercial flow rates at Tendrara while also proving up further significant volumes. This will be a critical well for both Sound Energy and the whole of Eastern Morocco, which is rapidly attracting interest from across the sector. We are delighted to be working so closely with a world class partner such as Schlumberger, and look forward to updating the market on progress.”
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