Sound Energy on Thursday announced that it has received a non-binding Expression of Interest from the Oil & Gas Investment Fund (OGIF), in financing, constructing and operating a new pipeline linking Tendrara to the Gazoduc Maghreb Europe (GME) pipeline.

OGIF is Sound Energy’s partner on the Tendrara licence.

According to Sound Energy, the cost of the new Tendrara pipeline is currently estimated to be about $50 million.

“We are very pleased to have received this first expression of interest which potentially enables us to construct the infrastructure which would be required at Tendrara without equity dilution, whilst also further broadening our strong partnership with OGIF,” James Parsons (photo), Chief Executive Officer of Sound Energy, told Energy-pedia.

The Tendrara permit is situated in the Figuig Province, North-East Morocco, about 120km from the GME pipeline, joining Algeria and Morocco to the Spanish / Portuguese gas grids. The permit area which is sub-divided into eight blocks covers a combined area of 14,500 km².

The licence at present has 4,400 km of 2D seismic and 500 km² of 3D seismic. Initial internal estimates of current discovery volumes recommend significant volumes in place with potential recoverable resources of multiple Trillion cubic feets across multiple prospects /leads

Sound Energy, operates the Licence with a 55% working interest alongside OGIF with 20% and ONYHM with 25%.

Anita Fatunji