Sound Energy PLC’s (LON:SOU) progress in Morocco is moving the company’s Tendrara gas assets towards early monetisation, according to oil and gas companies expert Malcolm Graham Wood.
The explorer on Tuesday told investors that the Wilaya of the L'Oriental Region has approved the proposed pipeline route that will be needed to transport gas from Sound’s projects in the region into the existing Gazoduc Maghreb Europe (GME) pipeline.
Sound Energy said it would now follow up this preliminary approval with engineering and commercial activities necessary to support final authorisation.
"I am delighted to have received this confirmation, which supports the significant progress we have made in developing our Moroccan portfolio to date,” said James Parsons, Sound Energy chief executive.
“The approval is also further evidence of the relationships that Sound Energy has built in country since entering in 2015, and the mutual co-operation that exists with local, regional and governmental authorities."
Malcolm Graham Wood, in his daily blog, on Tuesday said:, “This is good news and to an extent shows the value of having good relationships with the important people locallydeveloped through extensive local social policies.”