Sound Energy PLC (LON:SOU) has told investors that drilling will begin on the TE-8 well at the Tendrara gas project this month.
It comes as the company confirmed the mobilisation of the Saipem rig that will be used for the programme.
Ground works at the TE-8 location are now complete, the rig is moving from the TE-7 site, and it is expected to ‘rig up’ by mid-February.
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TE-8 aims to show that the gas reservoirs discovered to date span a much larger area, and it will be a key step in proving up Tendrara’s upside case.
Sound intends to commission a new competent persons report (CPR), which will provide an independent assessment of the project’s resources, once the TE-8 well has been completed.
The CPR will also be a precursor to Sound making a final investment decision on a possible development of the Tendrara gas field, a decision that’s anticipated for later in 2017.