Attijariwafa Bank y Sound Energy profundizan en las conversaciones para la financiación de prospección de gas al noreste de Marruecos
Attijariwafa Bank, el segundo banco más grande de Marruecos después de Banque Populaire y vinculado a la Corte Real de Marruecos, y Sound Energy, compañía británica que opera como compañía de exploración de petróleo y gas, han extendido el período de negociación para la financiación de la perforación y producción de gas bajo licencia en Tendrara, noreste de Marruecos.
Ambas partes tuvieron que posponer y extender las negociaciones debido a la festividad de Eid al-Fitr en Marruecos y ahora están retomando los contactos.
La energética amplió inicialmente el plazo de negociación hasta el 28 de abril de 2023 para que las partes determinen los términos vinculantes del acuerdo. Sin embargo, la consideración de la financiación por parte del Comité de Crédito se retrasó debido a las celebraciones de Eid Al Fitr en Marruecos, según explicó Sound Energy en un comunicado.
"With the rescheduling of the Credit Committee's consideration of the Financing, the parties continue to work in good faith to advance the financing and further announcements will be made, as appropriate in due course," the statement noted.
Sound Energy first announced that it reached an agreement with the Moroccan bank to finance the second phase of Tendrara's production development on 23 June 2022. Under the agreement, Attijariwafa Bank was to "agree to a long-term senior project credit facility with a term of no more than 12 years".
The agreement covers 2.25 billion Moroccan dirham, about $223 million, to partially finance Phase 2 of Tendrara's gas production development cost. The total cost of Phase 2 is estimated at $330 million, as reported by Morocco World News.
"The Phase 2 senior debt process has completed its due diligence phase with recommendations to Attijariwafa Bank's Credit Committee," said Graham Lyon, chief executive of Sound Energy.
On the progress of the discussions, Lyon said the UK firm is currently awaiting the conditional financing offer, which they expect to receive shortly from the bank's committee. "We look forward to providing further updates as the process moves forward," he concluded.
Graham Lyon himself noted that "Morocco's Tendrara field will play a key role in achieving the Maghreb's goals as the country aims to expand international markets and transactions". Sound Energy currently manages three areas in eastern Morocco, with 47.5% of its capital invested in the east, compared to 27.5% for Schlumberger and 25% for the state-owned National Office of Hydrocarbons and Mines (ONHYM). In these new projects, the British company will have a 60% stake in the project, while ONHYM will have the remaining 40%.
Graham Lyon is the current executive chairman of Sound Energy, previously serving as chairman of the board of SulNOx Group PLC from December 2019 to October 2020. Graham was also non-executive chairman of Tate Petroleum Limited from October 2018 to January 2020. In addition, he served in the technical department of the Advisory Committee at Sirius Petroleum PLC from January 2016 to September 2020 and as a non-executive director at Range Resources LTD from February 2014 to November 2014, attesting to his extensive industry experience.
Meanwhile, Attijariwafa Bank is Morocco's second largest bank and has ties to the Moroccan royal family, making it a key financier, very important to the progress of the officially licensed Tendrara gas exploration field.
Sound Energy has already signed a gas sales agreement with Morocco's National Office of Electricity and Water (ONEE) in February 2022, by which time the project will be in the second phase of development and the gas will be accessible.
In this way, the Moroccan kingdom is continuing its gas exploration in order to become a major producer of this resource. Studies carried out years ago confirmed that the Moroccan subsoil is rich in gas, and the aim is to take advantage of this for national economic development. "Morocco has several onshore and offshore sedimentary basins whose geology has allowed the genesis of different petroleum systems that could potentially be favourable to the accumulation of gas deposits," said Abdellah Mouttaqi, secretary general of the National Office of Hydrocarbons and Mines.
Hay ejemplos de trabajos que se están realizando en esta línea. Otra empresa británica, Chariot, hizo un descubrimiento de gas frente a la costa de Larache. La firma británica confirmó que se descubrieron reservas de gas de alta calidad. Otras áreas del país también están siendo explotadas. Se descubrieron varios depósitos de gas natural en la zona de Gharb, que parecen ser rentables en términos económicos. También se está estableciendo una importante red de gasoductos en la provincia de Kenitra. Incluso se han llevado a cabo exploraciones en Essaouira, Guersif, Zag, Boudnib y Missour como parte del plan de desarrollo de la industria gasista marroquí.
