Sound Energy company, Moroccan focused upstream gas company, has announced that it has entered into a sale and purchase agreement with Schlumberger Holdings II Limited to acquire the entire issued share capital of Schlumberger Silk Route Services Limited (“SSRS”), a press release declared.
Per the acquisition process, Sound Energy will increase its interest in the Anoual, Tendrara exploration permits in Eastern Morocco by 27.5% to  75% together with full control over its 75% participating interest in the Tendrara concession.

Increased participating interest to 75% will not impact the planned phased development strategy in East Morocco and enhancs Sound Energy’s position as a leading gas developer in the country.

It will remain fully funded for its increased 75% working interest of planned phase 1 Tendrara Concession capital investments required until first gas.