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OK, my apologise
We were already made aware of the exploration permit, which I thought had already been signed.
Therefore I took the new article to be referring to documents still yet to be signed, obviously for Sound this would be the GSA.
The French verb is in the perfect tense so the event is in the past. Therefore the translation ‘has signed’ three new agreements is correct. With regards to Sound the agreement they are talking about is the 8 year Petroleum agreement. I suggest you get your facts straight before trying to muddy the waters.
I think you are a little confused :
https://www.moroccoworldnews.com/2019/01/262735/petroleum-exploration-morocco/amp/
The Sound agreement is that signed for Sidi. No GSA agreement signed yet.
Hi Mert1, please could you share that information for those of us that don't have or use FB? Thank you
Woode, if you are going to use Google translate to translate a document I think it is worthwhile that you state this at the top of the post.
From the translation yuo posted;
In addition, ONHYM has signed three new oil agreements with the companies Repsol and Shell on the Tanfit zone and with Sound Energy
If you go back to to the original document it states:
l’ONHYM a procédé à la signature de trois nouveaux accords pétroliers avec les sociétés Repsol et Shell sur la zone Tanfit et avec Sound Energy
This implies that the relevant parties can now proceed with signing the documents, as full process and due dilligence has now been carried out and not that the documents have already been signed.
In Sound's case, if already signed I would be expecting to see a GSA RNS.
There is also a nice bit of info on the Sound Energy facebook page, which is related to this.
Woode, This the best and most material post I’ve seen in here. Thank you
OIL EXPLORATION: THE NEW AMBITIONS OF ONHYM
By Ismail Benbaba the 08/01/2019 at 21h46
ONHYM
© Copyright: DR
Kiosque360. The Office will reinforce its commitments over the next three years through a new strategic plan 2019-2021. This new roadmap includes three major projects.
The National Office of Hydrocarbons and Mines (ONHYM) is continuing its commitments through a new three-year plan by 2021, says Today Morocco in its delivery of the day. The newspaper emphasizes that this plan aims to enable the Office to continue mining and oil exploration, and to develop three structuring production projects.
This new vision, endorsed during the 15th session of the ONHYM Board of Directors held recently, consolidates the efforts made by the Office. In detail, the three major projects concern the setting in production of Tendrara, the extension of the production of Meskala and the continuation of the production in Gharb.
For Today Morocco, this orientation capitalizes on the achievements of the Office, which recorded a good performance in 2018. Moreover, the institute has increased its efforts to maintain and develop its partnerships and attract new companies with the aim of boosting the recognition and evaluation of the potential of Moroccan sedimentary basins. In addition, the newspaper notes that the turnover generated by the sale of hydrocarbons, at the end of December 2018, consolidated to 141.5 million dirhams excluding tax, an increase of 27.8 % compared to 2017.
With regard to oil exploration, the Office invested 30.5 million dirhams in 2018, bringing global investments in oil exploration at the end of 2018 to 1.44 billion dirhams. The daily also states that 2018 was marked by the drilling of 7 wells, including 5 located in the Gharb Basin (4 wells are positive).
In addition, ONHYM has signed three new oil agreements with the companies Repsol and Shell on the Tanfit zone and with Sound Energy on the Sidi Moktar Onshore and Grand Tendrara zones. We also learn that the search for hydrocarbons covered, at the end of November 2018, an overall area of 126,971.71 km2. On the balance sheet of the mining research, we note that the work, in 2018, concerned 49 objectives located in the promising areas of Morocco.