Sound Secures 75% Stake in Morocco Licences

Sound Energy, the UK-based North Africa explorer, said December 12 its acquisition of a 75% operated interest in the Sidi Moktar licences onshore Morocco has been approved by the authorities there.

The licences consist of three onshore gas permits covering 2,700km² in the Essaouira basin, central Morocco and contain the existing Kechoula gas discovery where two wells have already been drilled. The planned acquisitions announced during the course of 2016 consisted of a 50% operated interest from PetroMaroc and a 25% stake from Maghreb Petroleum Exploration. Moroccan state ONHYM retains the remaining 25% interest.

Map credit: Sound Energy

Sound has 27.5% equity in the 14,500 km² Tendrara licence in eastern Morocco where it is testing its second well. It sees "multi-Tcf potential" and expects to produce first gas in 1H 2019.

Mark Smedley