Sound Energy completes farm-in

Sound Energy plc, a European/Mediterranean-focused upstream oil and gas company, has completed its farm-in agreement with the Moroccan Oil and Gas Investment Fund in relation to the Tendrara Lakbir license, onshore Morocco, with ministerial approval, the final condition to the farm-in, now received.

The company has also agreed to commercial terms with Entrepose Drilling Morocco for the supply of a HH300 rig and the initiation of the procurement process for long lead items for the drilling of the first two appraisal wells on the Tendrara license.

Sound Energy intends to begin ground works on the drill site for the first Tendrara well shortly after receipt of EIA approval, which the company expects to receive in January 2016.

The company signed a term sheet with Schlumberger in relation to the Tendrara license on Oct. 21, and continues to work with Schlumberger in developing the strategic collaboration between Sound Energy and Schlumberger.

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...