Sound Energy sells its subsidiary to Managem and bets on the gas potential of Sidi Mokhtar

After concluding the sale of its subsidiary Sound Energy Morocco East to the Managem group, the British hydrocarbon exploration company, Sound Energy, is redirecting its priorities towards its concessions located in Sidi Mokhtar, in the province of Chichaoua.
The transaction, initiated in June 2024 and finalised on 11 December, required international coordination involving five countries to meet the banking deadlines imposed. The total amount of this operation could reach 45.2 million dollars, with a first tranche of 13.02 million dollars already paid, according to information reported by Medias24. This sale allows Sound Energy to clean up its financial situation and close its initial investments.
For Managem, this acquisition represents a major step in the development of Moroccan gas resources. The Tendrara project, a pillar of this expansion, plans for production to start as early as…