The North Africa Post
UK upstream Morocco focused Sound Energy said it was cleared to build and operate a 120- km gas pipeline in eastern Morocco.
The company made the announcement after receiving the environmental impact assessment approval from the Moroccan Ministry of Energy, Mines and Environment.
The pipeline will help channel gas from Tendrara to the already existing Gazoduc Maghreb Europe connecting Algeria to Europe via Morocco. In October, Sound Energy signed a gas supply deal with Morocco’s ONEE, state-owned power company.
Under the deal, the UK company will commercialize the gas found in the Tendrara permit where it holds 47.5% alongside Schumberger which has 27.5% direct interest and the state’s hydrocarbons agency (ONHYM) with 25%.
The company also confirmed plans to go ahead with the sale of a “substantial stake” of its Morocco operations.
“The Company continues to work on a Build-Own-Operate-Transfer funding solution for the infrastructure at the Tendrara Concession in parallel with progressing the previously announced proposed sale of a substantial stake in the Company’s Eastern Morocco Portfolio,” it said.
POSTED BY NORTH AFRICA POST
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