Proactive Investors - Run By Investors For Investors

Sound Energy secures eight-year agreement for Sidi Moktar gas project in Morocco

"Sidi Moktar represents an exciting second leg to our Moroccan portfolio, following on from Sound Energy's success at Tendrara,” said James Parsons, Sound chief executive
oil and gas operations
The first phase will see the testing of the Koba-1 well

Sound Energy PLC (LON:SOU) has secured a new eight-year petroleum agreement giving it rights to the Sidi Moktar project area, onshore Morocco.

The new project area, to be referred to as ‘Sidi Moktar Onshore’, covers a 4,499 square kilometres including the Sidi Moktar Nord, Sud and Ouest permit areas.

READ: Sound Energy reveals plans for a busy year in Morocco

It confirms Sound Energy’s 75% stake in the project, and details new minimum work commitments – which would see a new seismic programme and a well test (at Koba-1) during the first 30-month licence period.

"Sidi Moktar represents an exciting second leg to our Moroccan portfolio, following on from Sound Energy's success at Tendrara,” said James Parsons, Sound chief executive.

“The company is actively pursuing and remains committed to the development and expansion of its Moroccan portfolio."

READ: Sound Energy confirms plans for three-well Morocco drill programme

In November, Sound revealed an assessment of the Sidi Moktar project, where it has 28 mapped exploration leads in a variety of plays.

The project area has some 8.9 trillion cubic feet of exploration potential (according to the ‘best’ case estimate) and it is already host to a discovery.

Last summer, Sound successfully re-entered the Koba-1 well at Sidi Moktar and confirmed an interval in the Argovian reservoir. The well awaits testing, and could thereafter be put into production.

View full SOU profile View Profile

Sound Energy PLC Timeline

Related Articles

gas pipes
October 22 2018
GDC is working with Altaaqa and other equipment suppliers to fast track six generators
onshore oil field
September 20 2018
Eland, along with its project partner, produced almost 1mln barrels of oil from the OML 40 licence in the first six months of the year, a significant year-on-year rise
pylon
October 12 2018
Efforts in future will be directed toward the Chennai power plant and OPG’s growing solar capacity

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use