Proactive Investors
Jamie Ashcroft
The Koba-1 and Kamar-1 wells, drilled by former operators, will be recompleted, perforated and tested.
Sound sees ‘first commercial gas’ potentially coming from Sidi Moktar by the end of 2017.
Sound Energy PLC (LON:SOU) revealed details of its preparations for work-over programmes at the Sidi Moktar gas project onshore Morocco, where a rig has now arrived.
The closely followed oil and gas company told investors that the newly arrived SAIPEM rig with be used for the re-entry of two existing wells on the Kechoula discovery.
The Koba-1 and Kamar-1 wells, drilled by former operators, will be recompleted, perforated and tested.
Operations on Koba-1 are expected to be complete by the end of May, whereas the Kamar-1 workover programme is due to complete by mid-June.
If the well work-overs result in commercial flow rates then it is planned that Sound will have an extended well test.
The company notes that past assessment of Sidi Moktar, by past operators, yielded estimates for the asset’s potential for up to 9 trillion cubic feet of gas. As well as the Koba-1 and Kamar-1 well operations, Sound also intends to reprocess existing 2D seismic data.
Sound highlighted that it intends to wait until it has well data and findings from the new seismic data analysis before it comes to its own conclusion about the project’s resource potential.
It also noted that if well operations and testing are successful it would anticipate its ‘first commercial gas’ from Sidi Moktar by the end of 2017, given that the project is close to existing infrastructure and potential gas customers (such as the large scale Moroccan state owned OCP Phosphate plant).
CEO James Parsons excited by Morocco upside
“Sidi Moktar represents one of many exciting opportunities for operational success to add material value to our business in the near future,” chief executive James Parsons said.
“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.”
