Sound Energy partners with oil company Schlumberger to develop its Moroccan assets

Sound Energy, a well-funded African and European upstream gas company, announced that it is partnering with French oil company Schlumberger Limited for its eastern Morocco assets, said Proactive Investors on Monday.

Schlumberger, the world's largest oilfield services company, will receive a 27.5% participating interest in the Tendrara Lakbir permits and the Matraka reconnaissance license, says the same source.

«I am delighted to have begun the process of bringing Schlumberger directly onto the various licenses in Eastern Morocco and look forward to further drilling success together,» said James Parsons, Sound chief executive.

On the other, Sound Energy to retain 47.5% stake while, Moroccan state firm L’Office National des Hydrocarbures et des Mines (ONHYM) to hold 25%.

Schlumberger said it intends to strategically collaborate with Sound Energy in eastern Morocco to develop the existing Tendrara discovery.