The British company Sound Energy has announced that it is planning to commercialize the gas it discovered in eastern Morocco, local media reported on Saturday.
The Moroccan daily Hespress.com said that Sound Energy signed a "heads of terms" with a consortium comprising Enagas, Elecnor and Fomento to set up all the required infrastructure, including a gas pipeline, to commercialize the company's gas discovery.
The consortium will finalize plans to secure access to development capital of some 184 million U.S. dollars that will be required to fund the projects, the same source pointed out.
Once on-stream, Sound Energy said it expects the eastern Moroccan gas discovery to produce 60 million standard cubic feet per day of natural gas, it noted.
This is the first significant indigenous gas production in Morocco.
Editor:Amber
