UK-listed Sound Energy announced the completion of a 55% farm-in agreement for the onshore licence Tendrara Lakbir in Morocco with the country's oil and gas investment fund.

Sound Energy completes Morocco farm-in

Morocco

LONDON, December 16, 2015 – UK-listed Sound Energy announced the completion of a 55% farm-in agreement for the onshore licence Tendrara Lakbir in Morocco with the country’s oil and gas investment fund.

The Tendrara licence includes eight blocks across 14,500 square kilometres.

The operator plans to drill two back-to-back wells and conduct an extended well test to prove commerciality of the Tagi formation in the licence. It has reached an rig-acquisition agreement with French company Entrepose Drilling for the works.

Morocco has 1.69 bcm (60 bcf) of proven gas reserves. However, these are underdeveloped – the country imported 95% of its energy needs in 2014.

Since January 2015, BP, Chevron and independent Cairn Energy have announced new projects or buy-ins in the country. In March, UAE operator Mubadala Petroleum picked up a contract to explore off the country in the Mediterranean.

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