Schlumberger closes on Sound Moroccan gas project

摘要

Sound Energy has closed a deal with Schlumberger for its gas project in Eastern Morocco and signed a rig contract for two new exploration wells. Schlumberger has finalised a 27.5% joint venture interest in the Tendrara project which includes a field management agreement. Schlumberger is funding 50% of any development costs after the declaration of commerciality. In return it will get half of net profits. Schlumberger will also provide integrated technical services, equipment and personnel.