Petroleum Africa
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Friday, July 8, 2016
Sound Energy has received a non-binding Expression of Interest from Oil & Gas Investment Fund (OGIF), its partner on the Tendrara License, expressing OGIF’s interest in funding, building and operating a new pipeline connecting Tendrara to the Gazoduc Maghreb Europe (GME) pipeline.
The cost of the new Tendrara pipeline is currently estimated to be approximately $50 million.
James Parsons, CEO of Sound Energy, commented, “We are very pleased to have received this first expression of interest which potentially enables us to construct the infrastructure which would be required at Tendrara without equity dilution, whilst also further broadening our strong partnership with OGIF.”
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