Annual license16 Aug 2019 12:42
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.leconomiste.com/article/1048974-exploration-petroliere-jeu-de-chaises-musicales-sur-le-permis-anoual&ved=0ahUKEwja8evVmIfkAhViTBUIHc9yAQQ4ChCpAggrKAEwAQ&usg=AOvVaw19fkMpzVncr-ytTE1M1b8Q
Sound Energy remains the majority shareholder of the Anoual license following the sale of shares last February. However, its partner Schlumberger shows interest in permits in eastern Morocco with 27.5% of shares in its portfolio
The government approves the new configuration of interest shares in hydrocarbon exploration permits "Anoual I to V". Located east of Morocco, the exploration area called "Anoual" covers an area of ??8,873 km2.
In the decrees No. 1702-19 and No. 1703-19 of 1 April 2019, the Ministry of Energy, Mining and Sustainable Development has authorized two transactions involving the company Sound Energy Morocco East Limited. The first decision authorized the sale of 27.5% of the interest shares held by the Moroccan subsidiary Sound Energy to Schlumberger Silk Road Services Limited (SLB).
The transaction, which marks the introduction of SLB Permits eastern Morocco and interest in this basin, gathered around the portfolio the National Office of Hydrocarbons and Mining (ONHYM) with 25% share, Sound Energy Morocco East Limited (27.5%), Sound Energy Meridja Limited (20%) and SLB (27.5%).
According to the Official Bulletin, "Schlumberger has taken on board all the commitments entered into by the British company and will enjoy all the rights and privileges granted to it under the Law on Research and Exploitation of above-mentioned hydrocarbon deposits and the oil agreement ". As a reminder, Schlumberger managed the entire Sound Energy 2D seismic program.
In addition, its direct introduction on the licenses of eastern Morocco is part of a concerted and agreed process between the two strategic partners. The two companies continue to deepen their knowledge of the eastern basin of Morocco.
In August 2018, they completed a seismic program of US $ 27.2 million (approximately DH 259.7 million), fully funded by Schlumberger. In 2018, Sound Energy has completed more than 2,850 line kilometers of seismic program.
This resulted in the sale of all 20% interest held by Sound Energy Meridja Limited to Sound Energy Morocco. This new operation, approved by Order No. 1703-19, reconfigures the tour de table: Sound Energy Morocco East Limited (47.5%), Onhym (25%) and Schlumberger Silk Road Services Limited (27.5%) .
In their letter to investors dated March 21, 2019, Sound Energy executives expressed optimism about the potential of the Tendrara and Anoual perimeters. These are important hydrocarbon areas. In 2018, the British firm strengthened its licensing position by obtaining a new eight-year license combining Tendrara and Matarka.
Sign In
Follow the stocks
