{"id":11996,"date":"2022-03-10T05:53:41","date_gmt":"2022-03-10T05:53:41","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=11996"},"modified":"2022-03-10T05:53:41","modified_gmt":"2022-03-10T05:53:41","slug":"morocco-sound-energy-granted-extension-on-phase-2-tendrara-development-gsa","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-granted-extension-on-phase-2-tendrara-development-gsa\/","title":{"rendered":"MOROCCO: Sound Energy Granted Extension on Phase 2 Tendrara Development GSA"},"content":{"rendered":"<p class=\"dq\"><span class=\"do\">Sound Energy has announced an extension to the date by which the conditions to its binding gas sale and purchase agreement (the &#8220;GSA&#8221;) in respect of the Phase 2 development of the Tendrara Production Concession with Morocco&#8217;s state owned power Company ONEE (Office National de l&#8217;Electricite et de l&#8217;Eau potable) for the sale of natural gas from the Tendrara Concession in Eastern Morocco over a 10 year period are required to be satisfied by a further three months (the &#8220;GSA Extension&#8221;). The terms of the GSA were announced by the Company on 30 November 2021.<\/span><span class=\"do\">\u00a0<\/span><\/p>\n<p class=\"dq\"><span class=\"do\">The GSA remains conditional upon, inter alia: <\/span><\/p>\n<p class=\"dq\"><span class=\"do\">(i) all necessary authorizations and permits having been granted for the construction of the Phase 2 gas installations <\/span><\/p>\n<p class=\"dq\"><span class=\"do\">(ii) the final investment decision, when taken, by the Tendrara joint venture partners, being approved by the Moroccan Ministries of Transition Energy and Sustainable Development and Economy and Finance; and <\/span><\/p>\n<p class=\"dq\"><span class=\"do\">(iii) the entry by the Tendrara joint venture partners of an interconnection agreement with the operator of the GME Pipeline, and the commencement of works, for the connection of the Tendrara Production Concession to the GME Pipeline.<\/span><span class=\"do\">\u00a0<\/span><\/p>\n<p class=\"dq\"><span class=\"do\">Progress has been made in the preparation of pipeline entry agreements, term sheets for financing, approvals and FID and consequently all parties have agreed to a 90 day extension period to the GSA.<\/span><\/p>\n<p class=\"dt\"><span class=\"do\">Graham Lyon, Sound Energy&#8217;s Executive Chairman, commented:<\/span><span class=\"do\">\u00a0<\/span><\/p>\n<p class=\"du\"><span class=\"do\">&#8220;The progress on the various conditions over the last 90 days is encouraging to all particularly the interest of local and international funding partners financing and as such the extension of the agreement of the GSA is welcomed.\u00a0 We are delighted with this confirmation that the UK-Morocco, ONHYM and Sound Energy partnership is working well.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sound Energy has announced an extension to the date by which the conditions to its binding gas sale and purchase agreement (the &#8220;GSA&#8221;) in respect of the Phase 2 development &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-granted-extension-on-phase-2-tendrara-development-gsa\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11],"tags":[1051,1629,10301,9372,7689,8401],"class_list":["post-11996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-gsa","tag-morocco","tag-office-national-de-lelectricite-et-de-leau-potable","tag-onhym","tag-sound-energy","tag-tendrara","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1280%2C720&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-37u","jetpack-related-posts":[{"id":12762,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-announces-project-financing-update\/","url_meta":{"origin":11996,"position":0},"title":"MOROCCO: Sound Energy Announces Project Financing Update","author":"","date":"November 1, 2022","format":false,"excerpt":"Farm-Out Update\u00a0 The Company announced on 9 August 2022\u00a0that it had initiated a formal farm-out process for the Tendrara Production Concession and the surrounding Grand Tendrara and Anoual exploration permits.\u00a0 The objective of the area-wide farm-out is to seek a co-investing partner in each licence to both fund the expected\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":11430,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-progress-made-in-phase-1-lng-gsa-in-tendrara-production-concession\/","url_meta":{"origin":11996,"position":1},"title":"MOROCCO: Progress Made Towards Phase 1 LNG GSA in Tendrara Production Concession","author":"","date":"December 20, 2021","format":false,"excerpt":"Sound Energy has announced that material progress has continued to be made towards satisfying the remaining conditions precedent to the Phase 1 LNG Gas sales Agreement (the LNG GSA). The LNG GSA, in relation to the Phase 1 liquified natural gas based development of the Company's Tendrara Production Concession, is\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":9102,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-announces-h1-2020-results\/","url_meta":{"origin":11996,"position":2},"title":"MOROCCO: Sound Energy Announces H1 2020 Results","author":"","date":"September 11, 2020","format":false,"excerpt":"Statement from the Executive Chairman Despite the challenging business environment brought on by the Covid-19 global pandemic and exacerbated in the oil and gas sector by a dispute between Russia and Saudi Arabia which led to an increase in supply just as demand was falling due to the economic impact\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":11477,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-announces-phase-1-development-loan-note-financing-and-lng-sale-purchase-agreement\/","url_meta":{"origin":11996,"position":3},"title":"MOROCCO: Sound Energy Announces Phase 1 Development Loan Note Financing and LNG Sale &#038; Purchase Agreement","author":"","date":"January 1, 2022","format":false,"excerpt":"Sound Energy, the energy transition company, is delighted to announce the entry of binding conditional agreements in respect of a US$18 million Phase 1 Tendrara LNG Development loan note financing and that, with the other remaining conditions precedent to the Phase 1 LNG gas sales agreement announced by the Company\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Morocco-Tendrara.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":14545,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-updates-on-sale-of-its-assets\/","url_meta":{"origin":11996,"position":4},"title":"MOROCCO: Sound Energy Updates on Sale of its Assets","author":"","date":"September 27, 2024","format":false,"excerpt":"Further to the announcement of 14 June 2024 regarding the entry into a conditional binding Sale and Purchase agreement for the partial divestment by Sound Energy, of its Moroccan assets by way of the disposal by the Company of the entire issued share capital of the Company's wholly owned subsidiary\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Morocco-Sound-energy.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Morocco-Sound-energy.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Morocco-Sound-energy.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Morocco-Sound-energy.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/05\/Morocco-Sound-energy.png?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":14375,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-signs-binding-agreement-for-the-sale-of-share-capital-of-sound-energy-morocco-east-limited\/","url_meta":{"origin":11996,"position":5},"title":"MOROCCO: Sound Energy Signs Binding Agreement for the Sale of Share capital of Sound Energy Morocco East Limited","author":"","date":"June 18, 2024","format":false,"excerpt":"Sound Energy has announced the entry into a binding Sale and Purchase agreement for the partial divestment of the Company's Moroccan assets by way of the disposal by the Company of the entire issued share capital of Sound Energy Morocco East Limited (SEME) to Managem SA for a total value\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Morocco-Tendrara.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Morocco-Tendrara.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Morocco-Tendrara.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Morocco-Tendrara.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/06\/Morocco-Tendrara.png?fit=1200%2C1200&ssl=1&resize=1050%2C600 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