Rabat - The British oil and gas exploration company Sound Energy PLC has announced that it will start commercializing the first gas from Sidi Mokhtar in the central Moroccan Essaouira Basin by the end of 2017.
Rabat – The British oil and gas exploration company Sound Energy PLC has announced that it will start commercializing the first gas from Sidi Mokhtar in the central Moroccan Essaouira Basin by the end of 2017.
The company revealed its work plan for the Sidi Mokhtar gas project after receiving the exploration license of the area covering 2,700 square kilometres last year. The news coincides with the arrival of a new platform to help finalize the drilling undertaken at the site and re-exploit the Koba-1 and Kamar-1, already drilled and tested by other operators.
Sound Energy expects the operations on Koba-1 to be complete by the end of May, while the Kamar-1 work-over program is due to complete by mid-June. In a statement published by the company, Sound Energy states that if the well work-overs result in commercial flow rates, extended well tests will be scheduled.
For James Parsons, CEO of Sound Energy, “Sidi Moktar represents one of many exciting opportunities for operational success to add material value to our business in the near future.”
In fact, previous assessments of Sidi Moktar’s potential area made by past operators yielded estimates of up to 9 trillion cubic feet of gas. In addition to the Koba-1 and Kamar-1 well operations, Sound also intends to reprocess existing 2D seismic data.
In this regard, Parsons said that “if the trials were successful, the first Sidi Mokhtar gas commercializations could start by the end of 2017,” adding that “the project is close to existing infrastructure such as the OCP plant.”
“The Sidi Moktar licences are estimated to have significant pre-Jurassic exploration potential from the TAGI and Paleozoic, similar to our Tendrara licence in Eastern Morocco, reinforcing our strategy of identifying opportunities that can bring near term benefit to Sound Energy and can be progressed quickly from an infrastructural perspective.
“We continue to believe that Morocco is an exciting hydrocarbon province with significant upside for Sound, and look forward to updating the market on progress in due course,” the CEO concluded.
Last December, Sound Energy decided to reinforce its presence in the gas exploration sector in Morocco, taking back 75 percent of the interests of the license of Sidi Mokhtar and buying 25 percent stake in the project, which comprises three onshore gas permits in Morocco.
The British company is conducting several drillings for oil and gas operations in Morocco, which imports about 95% of its energy needs. The Kingdom has been attracting more foreign firms over the past three years, since it represents a stable frontier in North Africa for foreign investors in a region plagued by political conflict.