Petroleum Africa
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Tuesday, August 31, 2021
Sound Energy has completed the completion of the 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 in Eastern Morocco, together with a 27.5% indirect interest in the Tendrara Concession through its contractual relationship with the group. Sound Energy now controls operated working interests of 75% in the exploration permits and in the concession.
Commenting on the transaction, Graham Lyon (Executive Chairman) said: “This accretive transaction has now completed and underlines Sound Energy’s position as the leading gas developer in Morocco. Following the recently announced Gas Sales Agreement with Afriquia Gaz, Sound Energy is now moving inexorably forward to the Final Investment Decision for its Micro LNG project.”
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