Sound Energy, a British oil and gas company, remains focused on Morocco’s vast gas resources, which it estimates to exceed 20 trillion cubic feet, Executive Chairman Graham Lyon said in an interview with Attaqa posted on Sunday.
Despite recent changes in its business strategy, the company has no plans to exit Morocco, with a clear commitment to meet the country’s growing energy demands, Lyon maintained.
The British company has not conducted any drilling operations in Morocco for over five years, instead concentrating on developing its key asset, the Tendrara gas field in Al Gharb Morocco. Sound Energy has also been working on extending licenses for the Tendrara and northwestern Anoual exploration blocks, with the Moroccan Ministry of Energy and Sustainable Development expected to approve them soon.
In December 2024, the company finalized a deal with the Moroccan mining company Managem Group, selling part of its gas assets in Morocco for USD 45.2 million. Under the terms of the agreement, Sound Energy retained a 20% stake in the Tendrara production concession, along with a 27.5% interest in both the Tendrara Grande and Anoual exploration licenses.
Despite questions surrounding the deal’s implications for Sound Energy’s future in Morocco, Lyon said the company is not leaving. In the interview, the CEO explained that the company is still committed to its operations in Morocco and has supportive Moroccan shareholders, including Managem Group’s subsidiary, MANA Energy.
Regarding drilling progress, Lyon confirmed that the company had not drilled in Morocco for over five years. However, the focus has currently shifted to developing the Tendrara field, with plans to drill two wells: SPK-1 in the Tendrara Grande area and M5 in the Anoual block. The wells are part of the deal with MANA Energy, which is funding the drilling operations.
Lyon expects at least one of the wells to be drilled by the end of 2025, pending approvals and further developments.
As for the delay in gas production from the Tendrara field, Lyon attributed it to manufacturing and supply chain issues in 2022 and 2023, exacerbated by global challenges such as the European conflict and steel plant closures. Despite the setbacks, he said that gas production will flow by the end of 2025, with gas sales expected to begin in late fall.
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