Gulf Oil and Gas accountACCOUNT

Sound Energy Provides Updates for Sidi Moktar

Source: www.gulfoilandgas.com 11/30/2017, Location: Africa

Share |
Sound Energy is pleased to provide the Company's first volumes estimate of the exploration potential of the Sidi Moktar exploration permits ("Sidi Moktar Permits") in Central Morocco.

The Sidi Moktar Permits cover 2,700 square kilometres in the Essaouira basin, central Morocco and contain an existing gas discovery in the Lower Liassic ("Kechoula") and significant pre-salt potential. Sidi Moktar is close to existing infrastructure and gas demand, including the large-scale Moroccan state owned OCP Phosphate plant. The Company has recently successfully re-entered, completed, perforated and flared gas at surface from the Argovian reservoir (historically the main producing reservoir in the Kechoula discovery). The Company will provide an update on the Argovian work programme shortly.

The Company recently commissioned Echo Geoscience Management Ltd* ("EG") to undertake an independent preliminary technical evaluation** of the available historical exploration well and 2D seismic data across the Sidi Moktar Permits area with a focus on the under-explored pre-salt plays beneath the Argovian reservoir (the "EG Study").

The Company is pleased to report the results of the EG Study, which has significantly enhanced the Company's view of the exploration potential and confirms the substantial upside of this pre-salt play. EG have defined and mapped a portfolio of 28 Liassic, Triassic and Paleozoic leads in a variety of hydrocarbon trap types across the Sidi Moktar Licences. Much of the potential lies within 11 of the pre-salt Triassic and Paleozic leads ranging in size individually from 200 Bcf to 2.5 Tcf. The EG Study highlights an exploration potential best case of 8.9 Tcf with an high of 11.2 Tcf and a low case of 6.7 Tcf, unrisked gas originally in place (gross). The largest of the leads include the following unrisked gas originally in place (gross):

- The 'EG6' Lead (30km south-east of the producing Meskala gas field), a tilted fault block with estimated volumes of 2.5 Tcf best case, a 4.3 Tcf high case and a 0.9 Tcf low case.

- The 'EG3' Lead (40km east of Meskala gas field), a tilted fault block with estimated volumes of 1.1 Tcf best case, a 1.9 Tcf high case and a 0.4 Tcf low case.

- The 'EG7' Lead (20km east of the Kechoula gas discovery), a well-defined four-way-dip closure with a 0.7 Tcf best case with a 1.3 Tcf high case and a 0.3 Tcf low case.

The Company expects to shortly sign a new eight-year Exploration Permit for the Sidi Moktar Licences covering a larger area of 4,499 square kilometres. The Company expects to hold a 75% position in this renewed Exploration Permit with Morocco's Office National des Hydrocarbures et des Mines ("ONHYM") holding a 25% position. After award the Company will commence the reprocessing of existing 2D seismic data and begin the acquisition a minimum of 500 kilometres of new 2D seismic data and undertake further geological studies in anticipation of high impact exploration drilling. The work programme will be focussed to address the critical risks with the expectation of increasing the chance of geological success to greater than 30% prior to drilling. Preparations for the new 2D seismic programme are already underway.

The Company cautions that exploration in the oil and gas industry contains an element of risk and there can be no guarantee that its current estimates of volumes of gas originally in place will be substantiated. Notwithstanding the preliminary volumetric assessments of exploration potential across the Sidi Moktar Licences estimated by the EG Study, the Company requires further exploration activity, including the acquisition of additional seismic and further drilling activities to substantiate the exploration potential and the potential recoverable volumes.

For more information about related Opportunities and Key Players visit North Africa Projects

Exploration News in Morocco >>

Cameroon >>  9/17/2018 - Tower Resources plc is pleased to provide the following operational update on its work on the Thali licence in Cameroon, conducted through its wholly ...
Egypt >>  9/15/2018 - Minister of Petroleum and Mineral Resources Tareq el Molla signed two deals with firms from Canada, the UK, the Netherlands, Malaysia and Kuwait to ex...

India >>  9/14/2018 - Vedanta Limited has notified the Management Committee, Ministry of Petroleum and Natural Gas and Directorate General of Hydrocarbons (DGH) of a hydroc...
Argentina >>  9/12/2018 - President Energy (PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina,...

Ecuador >>  9/12/2018 - Mr. Carlos Perez Garcia, Minister of Energy and Non-renewable Resources in Ecuador has announced an open licensing round for eight (8) blocks onshore ...
Madagascar >>  9/12/2018 - OMNIS, in partnership with TGS and BGP, announce a licensing round in Madagascar, to be launched at Africa Oil Week, 5-9th November 2018. ...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Morocco Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Morocco >>

More News

 

Oil & Gas Companies in Morocco >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.