Sound Energy has renegotiated its Anoual exploration permit terms with Morocco's National Office of Hydrocarbons and Mines, aligning program commitments for exploration of the eastern Morocco Anoual permit area with expected phasing of Tendrara production concession phase 1 development (OGJ Online, Feb. 17, 2020).
The permit, which became effective on Aug. 31, 2017, covers an area of 8,873 sq km and has a duration of 8 years. It is divided into three phases, each with pre-agreed work commitments. Original work commitments covered a 3-year initial period and included FTG-aerogradiometry, 600 km of 2D seismic, 150 sq km of 3D seismic, a subsequent optional first complimentary period of 2 years and 6 months for one exploration well with Triassic objective, and an optional second complimentary period of a further 2 years and 6 months for a single exploration well with Triassic objective. The initial period was set to expire Aug 31, 2020.
The amended work program covers an initial period of 4 years and 4 months from Aug 31, 2017. The exploration well with Triassic objective is scheduled for 2021. Optional first complimentary period starts Dec. 31, 2021.
If exploration well results show commercially exploitable discovery, Sound Energy will acquire 150 sq km of 3D seismic or its equivalent in 2D seismic data. Otherwise, the company will undertake further geological and geophysical studies but will not be required to acquire additional seismic.
Sound Energy is operator of the permit with 47.5% interest. Joint venture partners are Schlumberger (27.5%) and ONHYM (25%).
