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SDX Energy, the North Africa focused oil and gas company, is pleased to provide an update on its Moroccan activities.
Lalla Mimouna
The Lalla Mimouna Nord and Sud permits, covering an area of over 2211 km2 located in the Rharb Basin, are being extended until March 2018. The drilling campaign remains on schedule for two exploration wells in the second half of 2017.
Sebou
At Sebou, a 135km2 concession located in the Rharb Basin, extensions have been granted for the following producing concessions:
- Gueddari NW to 2 February 2019
- Gueddari Sud to 18 January 2020
- Sidi Al Harati SW to 20 September 2023
- Ksiri Central to 18 January 2025
The Sebou exploration permit is being renewed for eight years, with SDX committing to drilling three exploration wells within the first four-year period. SDX plans to drill two of the exploration wells towards this commitment in 2017 in addition to the three wells slated to be drilled in the Ksiri producing concession later this year. These planned wells are all close to existing infrastructure and can be put on production quickly.
The process of granting the awards and concession extensions named above, are subject to the final standard customary approvals by the Moroccan authority. This is the normal administrative procedure in country.
Paul Welch, CEO of SDX Energy, commented:
‘2017 has already proven to be an extremely active time for SDX, as we focus on developing our assets across the portfolio, in both Morocco and Egypt. We are encouraged by the opportunity set that we have acquired and subsequently developed in Morocco. The extensions in Sebou will allow SDX to execute on a drilling campaign that will provide additional production capacity and reserves, if successful. The Lalla Mimouna and Sebou concessions in Morocco provide us with the potential to further grow the business as we seek to get the most out of the opportunity that exists in Morocco’s local gas market.
‘The remainder of the year is set to be a period of high activity in Morocco, with a total of seven wells to be drilled. This will continue to build on the solid progress made to date for SDX in delivering high margin growth across the portfolio.’
For more information, please visit: http://www.sdxenergy.com
