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Sound Energy kicks off civil works ahead of new Tendrara well drilling

As preparations are now advancing ahead of new drilling in Morocco, investor attention will likely rise as the programme approaches

oil and gas operations
Civil works begin with access road construction

Sound Energy PLC (LON:SOU) has confirmed the start of civil works in preparation for the planned drilling of the TE-9 well, within the Tendrara licence onshore Morocco.

The first stage of civil works sees the construction of an access road to the well site.

The explorer also told investors that it has now signed a rig contract for the programme.

READ: Schlumberger to take direct interest in Sound’s eastern Morocco gas projects

Sound yesterday announced administrative changes related to its eastern Morocco assets which see partner Schlumberger taking a direct interest in the projects.

A process is now underway to assign a Schlumberger subsidiary a 27.5% participating interest in the Tendrara Lakbir permits, the Anoual permits and the Matarka reconnaissance licence.

“I am delighted to have begun the process of bringing Schlumberger directly onto the various licences in Eastern Morocco and look forward to further drilling success together," said James Parsons, Sound chief executive.

The company will subsequently retain a 47.5% stake and it will remain the operator, while Moroccan state firm L'Office National des Hydrocarbures et des Mines (ONHYM) will continue to hold 25%.

A new version of Sound’s field management agreement has been entered into Schlumberger, reconfirming a materially unchanged working relationship following the administrative changes conversion.

Sound highlighted that Schlumberger intends to continue to collaborate strategically across their interests in the eastern Morocco portfolio, including the development of the existing Tendrara discovery and the new drilling (namely the TE-9 and TE-10 wells, which are the first two planned wells).

Quick facts: Sound Energy PLC

Price: 2.8525 GBX

AIM:SOU
Market: AIM
Market Cap: £30.8 m
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