Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/sound-energy-to-work-with-schlumberger-in-morocco.shtmlSound Energy to work with Schlumberger in Morocco
Sound Energy has entered into a Field Management Agreement with an affiliate of Schlumberger Oilfield Holdings Limited (the 'FMA') in relation the Tendrara licence,
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Sound Energy has entered into a Field Management Agreement with an affiliate of Schlumberger Oilfield Holdings Limited (the 'FMA') in relation the Tendrara licence, onshore Morocco (the 'Tendrara Licence').
Under the FMA:
Schlumberger will provide integrated technical services, equipment and personnel to Sound Energy, Operator of the Tendrara Licence;
Schlumberger will fund a significant proportion of the capital expenditure on the first three Tendrara appraisal wells, and of the development of the licence area thereafter; and
Schlumberger will be granted an upside linked to production performance.
