Sound Energy PLC (88S1.SG)

UK's Sound Energy PLC sells Moroccan gas assets to Managem

UK gas company Sound Energy PLC sold its subsidiary, Sound Energy Morocco East Limited, to Morocco's largest mining company, Managem, the two companies said on Friday. The transaction amounts to $45.2 million in total, Sound Energy said, adding the sale was key to develop production in the eastern Morocco gas field, known as Tendrara. The field is expected to start production at 100 million cubic meters annually starting next year, Managem said in a statement.