UK-based Sound Oil has announced the results of a technical evaluation of the onshore Tendrara licence in Morocco
The evaluation was carried out by SLR Consulting (SLR) on behalf of the Mediterranean-focused upstream gas company, which has also provided an update on preparations for the forthcoming well.
According to the evaluation conducted by SLR, based on Sound Oil’s 55 per cent working interest in the Tendrara licence, the existing gas discovery at the TE-5/Lakbir structure has best estimate contingent resources of 170.8 bscf of gas. The high and low ends of the estimate are 490.6 bscf and 16.6 bscf of gas respectively. The evaluation also provides an estimate of 0.47mn barrels of condensate, with a high hstimate of 4.2mn barrels and a low estimate of 0.39mn barrels.
SLR said there is a 22 per cent chance of success for the best estimate contingent resource. The best estimate prospective resource from additional exploration is of 740.2 bscf across the remainder of the licence area, SLR added.
Sound Oil also announced that preparations for the forthcoming well at the Tendrara licence are at an advanced stage. In anticipation of the drill, the company has opened an office in Rabat and has completed the recruitment of an in-country technical team.
James Parsons, CEO of Sound Oil, said that SLR’s evaluation “validates the scale of both the existing gas discovery and the exploration upside at the Tendrara licence. We believe this asset provides a compelling risk/reward balance and a strong platform for further consolidation in country.”