Under this preliminary agreement, Sound Energy will commercialize the gas found in the Tendrara permit where it holds 47.5%, alongside Schlumberger, which has a 27.5% direct interest and the state’s hydrocarbons office ONHYM with 25%.
The East Morocco operation comprises three areas – Tendrara, Greater Tendrara and the Anoual Permit.
“Whilst clearly disappointed with the outcome of the recent well test at TE-10, the team and I are encouraged to have delivered gas to surface from another TAGI discovery and remain confident in the potential of our Eastern Morocco basin,” the company CEO said.
Last May, following disappointing drilling results on the Tendrara concession, Sound said it was putting its eastern Moroccan assets for sale, with Rothschild & Co. advising. While the TE-10 well did not achieve commercial flow rates, the TE-5 discovery remains economically viable.