{"id":8520,"date":"2020-07-06T07:57:39","date_gmt":"2020-07-06T07:57:39","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=8520"},"modified":"2020-07-06T07:57:39","modified_gmt":"2020-07-06T07:57:39","slug":"morocco-sound-energy-concludes-a-re-negotiation-of-the-terms-of-its-anoual-exploration-permits","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-concludes-a-re-negotiation-of-the-terms-of-its-anoual-exploration-permits\/","title":{"rendered":"MOROCCO: Sound Energy Concludes A Re-negotiation of the Terms of its Anoual Exploration Permits"},"content":{"rendered":"<p class=\"aq\"><span class=\"aj\">Sound Energy has announced that it has, together with its licence partners, successfully concluded a re-negotiation of the terms of its Anoual Exploration Permits with Morocco&#8217;s \u00a0National Office of Hydrocarbons and Mines . Sound Energy said the terms aligns with the work programme commitments on the Permit and the Company&#8217;s continued pursuit to unlock the exploration potential of the Eastern Morocco basin, with the expected phasing of the Company&#8217;s recently announced Tendrara Production Concession Phase 1 development plan.<\/span><span class=\"aj\">\u00a0<\/span><\/p>\n<p class=\"aq\"><span class=\"aj\">The Permit, which became effective on 31 August 2017 and covers an area of some 8,873 square kilometres has a duration of 8 years and, as with all Moroccan exploration permits, is divided into 3 phases with each phase having pre-agreed work commitments. The original work commitments under the Permit were:<\/span><span class=\"aj\">\u00a0<\/span><\/p>\n<p class=\"ar\"><span class=\"ah\">\u00b7\u00a0\u00a0\u00a0<\/span><span class=\"am\">Initial period of 3 years expiring on 31 August 2020: FTG-aerogradiometry, 600 kilometres of 2D seismic and 150 square kilometres of 3D seismic.<\/span><span class=\"aj\">\u00a0<\/span><\/p>\n<p class=\"ar\"><span class=\"ah\">\u00b7\u00a0\u00a0\u00a0<\/span><span class=\"am\">Subsequent optional first complimentary period of 2 years and 6 months: 1 exploration well with Triassic objective.<\/span><span class=\"am\">\u00a0<\/span><\/p>\n<p class=\"ar\"><span class=\"ah\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"am\">Optional second complimentary period of a further 2 years and 6 months: A further single exploration well with Triassic objective.<\/span><span class=\"aj\">\u00a0<\/span><\/p>\n<p class=\"aq\"><span class=\"aj\">The amended work programme commitments under the Permit are now as follows:<\/span><span class=\"aj\">\u00a0<\/span><\/p>\n<p class=\"ar\"><span class=\"ah\">\u00b7\u00a0 \u00a0<\/span><span class=\"am\">Initial period of 4 years and 4 months from 31 August 2017: FTG-aerogradiometry and 600 kilometres of 2D seismic and 1 exploration well with Triassic objective (to be scheduled in 2021).<\/span><span class=\"aj\">\u00a0<\/span><\/p>\n<p class=\"ar\"><span class=\"ah\">\u00b7\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"am\">Optional first complimentary period of a further 2 years and 6 months (from 31 December 2021): if the results of the drilling of the exploration well drilled in the Initial Period are likely to constitute a commercially exploitable discovery, the Company will acquire 150 km2 of 3D seismic or its equivalent in 2D seismic data.\u00a0 If the results of the exploration well drilled in the Initial Period are not likely to constitute a commercially exploitable discovery, the Company will undertake further geological and geophysical studies but will not be required to acquire this additional seismic.<\/span><span class=\"am\">\u00a0<\/span><\/p>\n<p class=\"ar\"><span class=\"ah\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><span class=\"am\">Optional Second complimentary period of a final 2 years and 6 months: A further single exploration well with Triassic objective.<\/span><span class=\"aj\">\u00a0<\/span><\/p>\n<p class=\"aq\"><span class=\"aj\">The effective date of the Permit remains the same. The Company clarifies that the commitment to acquire FTG-aerogradiometry and 600 kilometres of 2D seismic has already been fulfilled and approved as such by ONHYM. The Company holds an operated 47.5% interest in the Permit, with the remainder held by joint venture partners Schlumberger with a 27.5% share and ONHYM with a 25% share.\u00a0<\/span><strong><span class=\"aj\">\u00a0<\/span><\/strong><\/p>\n<p class=\"aq\"><strong><span class=\"aj\">Mohammed Seghiri, Sound Energy&#8217;s COO, commented:<\/span><\/strong><span class=\"aj\">\u00a0<\/span><\/p>\n<p class=\"aq\"><span class=\"aj\">&#8220;Despite the challenges caused by the COVID-19 restrictions, I am delighted to have re-aligned our committed exploration work programme at the\u00a0<\/span><span class=\"ad\"><em>Anoual<\/em>\u00a0Exploration Permit in Eastern Morocco so it dovetails more efficiently with the proposed phasing of our Phase 1 Development Plan at the Tendrara Production Concession in a manner that underscores both our confidence in the potential of the basin as a future significant gas producing province and our ability to deploy capital judiciously across the portfolio.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sound Energy has announced that it has, together with its licence partners, successfully concluded a re-negotiation of the terms of its Anoual Exploration Permits with Morocco&#8217;s \u00a0National Office of Hydrocarbons &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-concludes-a-re-negotiation-of-the-terms-of-its-anoual-exploration-permits\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":8521,"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":[7756,34,7755,7757,7688,1629,7759,7689,7758],"class_list":["post-8520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-2d-seismic-data","tag-3d-seismic","tag-anoual","tag-ftg-aerogradiometry","tag-mohammed-seghiri","tag-morocco","tag-national-office-of-hydrocarbons-and-mines","tag-sound-energy","tag-tendrara-production-concession","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Anoual.jpg?fit=750%2C746&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2dq","jetpack-related-posts":[{"id":12558,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-provides-phase-2-development-financing-launch-of-tendrara-farm-out-process\/","url_meta":{"origin":8520,"position":0},"title":"MOROCCO: Sound Energy Provides Phase 2 Development Financing &#038; Launch of Tendrara Farm-Out Process","author":"","date":"August 10, 2022","format":false,"excerpt":"Phase 2 Development Financing and Farm-Out Update\u00a0 As announced on 23 June 2022, the Company mandated Attijariwafa bank, a Moroccan multinational bank and one of the leading banks in Morocco, to arrange a long-term project senior debt facility of up to c.US$250 million for the partial financing of the currently\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":10436,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-increases-participating-interests-in-the-anoual-greater-tendrara-exploration-permits\/","url_meta":{"origin":8520,"position":1},"title":"MOROCCO: Sound Energy Increases Participating Interests in the Anoual &#038; Greater Tendrara Exploration Permits","author":"","date":"June 14, 2021","format":false,"excerpt":"Sound Energy has entered into a sale and purchase agreement with Schlumberger Holdings II Limited to acquire the entire issued share capital of Schlumberger Silk Route Services Limited. Acquisition Highlights: The Group will have increased participating interests in the Anoual and Greater Tendrara exploration permits in Eastern Morocco by 27.5%\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15569,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-provides-tendrara-development-anoual-exploration-permits-operational-update\/","url_meta":{"origin":8520,"position":2},"title":"MOROCCO: Sound Energy Provides Tendrara Development, Anoual Exploration Permits Operational Update","author":"","date":"January 26, 2026","format":false,"excerpt":"Sound Energy\u00a0has announced the following operational update on the\u00a0Tendrara Phase I Production Concession and Anoual Exploration Permits. Tendrara Gas Gathering System Commissioning Further to our announcement of 8 December 2025 regarding commencement of initial commissioning activities for the TE-5 Horst development, the Operator, Mana Energy Ltd, has informed 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\/2024\/04\/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\/04\/Morocco-Tendrara.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/04\/Morocco-Tendrara.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/04\/Morocco-Tendrara.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/04\/Morocco-Tendrara.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":8520,"position":3},"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 3x"},"classes":[]},{"id":10823,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-acquires-schlumberger-silk-route-services-ssrs-equity\/","url_meta":{"origin":8520,"position":4},"title":"MOROCCO: Sound Energy Acquires Schlumberger Silk Route Services (SSRS) Equity","author":"","date":"August 31, 2021","format":false,"excerpt":"Sound Energy has announced the completion of the Company's acquisition from Schlumberger\u00a0Holdings II Limited of the entire issued share capital of Schlumberger Silk Route Services (SSRS). SSRS holds a 27.5% participating interest in the Anoual and Greater Tendrara exploration permits\u00a0in Eastern Morocco, together with a 27.5% indirect interest in the\u00a0Tendrara\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":12955,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-sound-energy-provide-tendrara-project-financing-update\/","url_meta":{"origin":8520,"position":5},"title":"MOROCCO: Sound Energy Provide Tendrara Project Financing Update","author":"","date":"December 13, 2022","format":false,"excerpt":"Partner and possible Farm-Out Update\u00a0 The Company announced on 9 August 2022\u00a0that it had initiated a formal farm-out process to identify a partner for the Tendrara Production Concession and the surrounding Grand Tendrara and Anoual exploration permits.\u00a0 The objective of the area-wide approach is to seek a co-investing partner in\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":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=8520"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8520\/revisions"}],"predecessor-version":[{"id":8522,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/8520\/revisions\/8522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/8521"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=8520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=8520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=8520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}