Sound Energy has secured approval from the Moroccan government for the new eight-year Greater Tendrara petroleum agreement that combines the Tendrara and Matarka exploration areas in the African country.
The approval for the Greater Tendrara petroleum agreement, which was given by the Moroccan Energy and Finance Ministries, covers an area of nearly 14,500km2 spread across eastern Morocco and surrounding the 133.5km2 development concession area associated with the Tendrara gas discovery.
The new Greater Tendrara Petroleum Agreement unites the areas covered by the Tendrara petroleum agreement given in April 2013 and the Matarka reconnaissance license given in July 2017.
Sound Energy CEO James Parsons said: “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 programme in the near future.”
Sound Energy will be the operator in Greater Tendrara with a stake of 47.5% and will be partnered by Schlumberger and ONHYM with stakes of 27.5% and 25% respectively in the unitized onshore Moroccan acreage.
The Greater Tendrara Petroleum Agreement will be valid for eight years from award and is split into three phases, with each of them having pre-agreed work commitments.
In the initial period of four years, two exploration wells – TE-9 and TE-10 will be drilled with the minimum Triassic objective.
An optional first complementary period of two years will allow the Greater Tendrara partners to drill an exploration well with the minimum Triassic objective.
Another complementary period of two years has been offered to the partners, which allows them to drill an exploration well in the onshore area, again with the minimum Triassic objective.
In June 2018, Sound Energy gave a front end engineering and design (FEED) contract to a consortium of Enagas, Elecnor and Fomento for the construction of a 20inch pipeline and facilities required for transportation of gas from the Tendrara field.
The consortium is expected to commence FEED process in this regard and after its completion, Sound Energy is likely to arrive at the final investment decision (FID) on the development of the Tendrara gas discovery.