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The Biggest Opportunity Right Now In Oil And Gas

The Biggest Opportunity Right Now In Oil And Gas

As certain areas in onshore…

EIA’s Contradictory Oil And Gas Predictions For 2017

EIA’s Contradictory Oil And Gas Predictions For 2017

The recent drilling productivity report…

Morocco Could Start Pumping Natural Gas By 2019

Natural gas storage

Morocco could become a player in the natural gas market by 2019, according to a new report by Interfax.

The Sound Energy Company, which focuses on projects in Africa and Europe, announced the successful drilling of the Tendrara Gas to a depth of 3,459 meters this week, according to Morocco World News.

The firm published an official report titled “Tendrara: TE-7 – Completion of Drilling and Log Results” to describe the results of the operation.

The next drilling exercise, TE-8, will prove additional volumes of gas in the field, Sound Energy contends, predicting that the site could hold anywhere in between 3 to 4 trillion cubic feet of gas.

Sound Energy also owns a 55 percent stake in the neighboring Meridja field.

Meridja and Tendrara lay within 75 miles of a special gas pipeline that connects Morocco and Algeria to the gas grids of Spain and Portugal.

Sound Energy’s stocks have increased four-fold since the beginning of July due to its success in the North African kingdom.

The company’s finance director Mary Hood was recently asked in a Proactive Investors interview about the size of the Moroccan find.

“Did the multi-TCF potential surprise us?” she asked hypothetically. “No, it didn’t, but, what we were looking for was a commercial flow rate of say 3 to 3.5 million scuffs [standard cubic feet or ‘scf’] per day, and what we’ve actually got from that first well, the T6 well, is a flow rate of 17mln scuffs per day.”

“It definitely surpassed our expectations,” she added.

Morocco is a net energy importer country that has been at the forefront of the charge towards renewable energy.

Its massive Noor solar power plant – the largest in the world – in the desert city of Ouarzazate will provide power to over a million people by the time the third phase of the project is completed in 2018.

By Zainab Calcuttawala for Oilprice.com

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