Schlumberger signs MoU with Sound Energy

Morocco

RABAT, October 21, 2015 – US oilfield services giant Schlumberger’s subsidiary Schlumberger Production Management has signed a memorandum of understanding (MoU) with the UK’s Sound Energy for a partnership in eight Moroccan blocks.

According to the non-binding agreement, Schlumberger is to provide technical services to Sound Energy in the country’s northeastern Tendara licence, which spans 14,500 square kilometres. The oilfield services firm’s work will be linked to production performance.

The licence contains seven wells, five of which have hit natural gas. The UK company, which farmed into the licence in June 2015 and holds a 55-percent operating interest, is planning to drill three more exploration wells.

Sound Energy has also signed an MoU with a separate Schlumberger subsidiary, Schlumberger Oilfield Holdings, to work together in Africa and Europe.

“This relationship is expected to jointly fund and technically de-risk multiple assets across Sound Energy’s current portfolio whilst also enabling our ambitious expansion across Europe and Africa,” Sound Energy CEO James Parsons said in a company statement.

For more news and features on Morocco, click here. 

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