Sound Energy All Set to Drill First Moroccan Well
Junior gas firm Sound Energy announced Monday that ground works have begun on its Tendrara license area onshore eastern Morocco. The company also said that all contracts have now been awarded for its first well on the license.
The civil works at Tendrara include the upgrading of local infrastructure, which will be followed by the preparation of the camp and two well pad areas. Sound agreed a field management agreement (FMA) with oilfield services firm Schlumberger in late December and has now confirmed that all contracts associated with the drilling of the first appraisal well at Tendrara have been awarded, including a binding rig contract with Saipem for a National 110 UE traditional rig. This rig is currently being prepared for mobilization from Mauritania, expected later this month.
Under the FMA, Schlumberger has agreed to fund 80-percent of the capital expenditure of the first Tendrara appraisal well, with Sound Energy funding the remaining 20 percent. The well is expected to cost some GBP 9.2 million ($13.5 million).
Sound CEO James Parsons commented in a company statement:
"We expect our first Moroccan well to demonstrate that we can secure commercial flow rates at Tendrara whilst also proving up further significant volumes. This will be a critical well for both Sound Energy and the whole of eastern Morocco, which is rapidly attracting interest from across the sector.
"We are delighted to be working so closely with a world class partner such as Schlumberger, and look forward to updating the market on progress."
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