Sound Energy Receives Interest for Tendrara Development Funding

Mediterranean-focused upstream gas company, Sound Energy, revealed Thursday that it has received interest from Oil & Gas Investment Fund (OGIF) with regards to funding a new pipeline development on the Tendrara license.

The non-binding Expression of Interest from OGIF, Sound’s partner on the license, expresses OGIF's interest in funding, building and operating a new pipeline connecting Tendrara to the Gazoduc Maghreb Europe (GME) pipeline. The cost of the new Tendrara pipeline is currently estimated to be approximately $50 million.

"We are very pleased to have received this first expression of interest which potentially enables us to construct the infrastructure which would be required at Tendrara without equity dilution, whilst also further broadening our strong partnership with OGIF,” said James Parsons, CEO of Sound Energy, in a company statement.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  MEO Australia Seeks Shareholder Approv... (Sep 28)
 -  Karoon Buys PEPC's 35% Stake in 4 Sant... (Sep 28)
 -  China's Wison Completes Test of World'... (Sep 28)
 -  DNV GL Reviews 100 Rigs as part of Saf... (Sep 28)
 -  Farstad Shipping Sells AHTS Lady Sandr... (Sep 27)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project Superintendent - Shipboard Technical Services
Expertise: Marine Supervisor
Location: Houston, TX
 
Operations Shift Supervisor
Expertise: Gas Plant Operations|LNG|Refinery / Plant Operations Supervisor
Location: Quintana, TX
 
Sr. Process Engineer
Expertise: Process Engineer|Project Engineer|Refinery Specialist
Location: Salt Lake City, UT
 
search for more jobs

Brent Crude Oil : $48.69/BBL 5.91%
Light Crude Oil : $47.05/BBL 5.32%
Natural Gas : $2.952/MMBtu 1.60%
Updated in last 24 hours