Sound Energy signs new eight-year petroleum agreement

Morocco-focussed upstream gas company Sound Energy announced the signing of a new eight-year petroleum agreement uniting the areas previously covered by the Tendrara petroleum agreement and the Matarka reconnaissance licence on Friday.

The AIM-traded firm said that was in addition to the existing Anoual petroleum agreement, and the production concession application relating to the Tendrara gas discovery in Eastern Morocco.

“I am delighted to announce that we have contractually secured our rights on this potentially transformational acreage up to 2026,” said chief executive officer James Parsons.

“We look forward to the approval of our production concession and commencement of our exploration drilling programme in the near future.”