British Firm Sound Energy Seeks to Extend Gas Exploration in Morocco

These contracts have reached the end of the initial period and the company is trying to obtain an extension of the deadline to complete the work, according to a source close to the file cited by Medias 24. This request comes from the British financial regulator, which has imposed a deadline on Sound Energy to set new exploration deadlines with ONHYM, "the confirmation of which should only be a formality," it is pointed out.

According to the explanations, the delay observed on the various projects is due to the health crisis. Thus, the Sidi Mokhtar permit, which was to last four years and six months, expired on October 9 last. The company is then negotiating a 24-month extension to complete the initial work program and continue the exploration of this site.

Regarding Tendrara, the site indicates that Sound Energy has respected the execution deadline of the first phase of the program and expressed its willingness to start the second. Launched on August 9, this second part will allow the drilling of an exploration well thanks to the drilling opportunities currently underway in the basin. In addition, the company reaffirms its commitment to continue the drilling of the TE-9 and TE-10 exploration wells, which had been approved by ONHYM when the initial contract was signed, the same source points out.