Sound Energy has signed a memorandum of understanding with Schlumberger oilfield holdings for a strategic relationship between the two companies in Europe and Africa.
The non-binding term agreement represents the first preliminary agreement to be entered into under the MOU.
Further details of the move are expected to be provided in due course including potential collaboration on the Tendrara licence in Morocco.
James Parsons, Sound Energy’s chief executive, said:”I am extremely pleased to announce a strategic collaboration between Sound Energy and one of the world’s leading companies in our sector.
“This relationship is expected to jointly fund and technically de-risk multiple assets across Sound Energy’s current portfolio whilst also enabling our ambitious expansion across Europe and Africa.”
