SDX Energy PLC has announced significant progress in its operations in Morocco, including the completion of a major seismic data reprocessing project. This initiative has helped build confidence in a 47 billion cubic feet (Bcf) gas development project, which could become a key asset for the company.
This reprocessing, carried out in collaboration with Absolute Imaging, revealed new prospects for more precise drilling, with the first wells planned for the last quarter of 2024, the company indicates.
Among SDX’s immediate actions, the company plans to drill a stratigraphic well in late 2024. This well, if successful, will be a major step in the development of a broader drilling campaign in early 2025. Two additional wells are also planned, with estimated unrisked resources of over 3 Bcf.
In parallel, SDX is in discussions with its partner, the National Office of Hydrocarbons and Mines (ONHYM), to connect an existing well to their network, thus generating additional revenue.
To expand its gas discovery opportunities, SDX plans to acquire an additional 150 km² of 3D seismic data in the Rharb Basin region. This project is expected to be launched in 2025 following an environmental assessment. In addition, the company has received two preliminary structured financing offers, securing future gas revenues to fund these drilling campaigns.
SDX has entered into discussions with two major international companies for a strategic partnership to accelerate its exploration and production activities in Morocco. As the country’s only independent gas producer, SDX is establishing itself as a key player in meeting Morocco’s growing energy demand.
Related News :