The National Office of Hydrocarbons and Mines (ONHYM) has granted Sound Energy a two-year extension to its Sidi Moktar onshore exploration license. This new authorization will allow the British company based in Morocco to compensate for the time lost due to the coronavirus pandemic.
This extension granted on Tuesday to the British oil and gas company Sound Energy covers an area of 4,711 km², in the Essaouira basin in central Morocco. This new authorization expires in October 2022.
“We are not the only ones facing the disruption caused by covid-19 and we are pleased that ONHYM has signed an amendment to extend the initial exploration period by two years”, said Mohammed Seghiri, Director General by Sound Energy.
For the first person in charge of the company, this time will be used in a suitable way. “We continue to wait impatiently to unlock the gas potential which, in our opinion, exists in this zone”, added Mr Seghiri, which underlines that Sound Energy holds 75% on the Sidi Moktar license and ONHYM the remaining 25%.