Moroccan Gas Production Set to Increase with SDX Energy’s Discoveries

SDX Energy has revealed exciting new gas prospects in Morocco. The company has identified two drilling targets, KSR-22 and OLME-A, with estimated unrisked volumes of 2.4 Bcf and 0.6 Bcf, respectively.

These discoveries follow a major data reprocessing project that has sharpened SDX Energy’s focus on promising gas resources.

The company has uncovered a potential 47 billion cubic feet (Bcf) of gas in Morocco. This includes the two new drilling targets, which represent over 3 Bcf of gas.

SDX Energy is also in talks with the Moroccan government to exploit an unconnected gas well, potentially boosting revenue. Plans are underway to launch a tender for acquiring 150 square kilometers of 3D seismic data.

This initiative aims to uncover new gas reserves. Advanced discussions with two international partners could accelerate exploration and production efforts.

SDX Energy recently completed reprocessing over 650 km² of 3D seismic data with Absolute Imaging.

Project Overview and Future Developments

This project merged five seismic surveys, improving data coherence and structural resolution. We plan to conduct an AVO inversion analysis to refine hydrocarbon indicators, expecting results by late 2024.

The data reinterpretation has revealed several amplitude clusters, suggesting a recoverable potential of 47 Bcf of gas. If confirmed, we can develop this project using multilateral drilling techniques.

SDX Energy notes strong gas demand from Moroccan industries and has begun discussions for project financing. Drilling is set to commence in the fourth quarter of 2024.

Meanwhile, SDX Energy awaits approval from Morocco’s National Hydrocarbons and Mines Office (ONHYM) to connect an existing gas well to its network.

This could generate short-term revenue. Additional wells may be connected, subject to further negotiations with ONHYM.

SDX Energy is preparing for an exciting phase with a planned tender for 150 km² of 3D seismic data acquisition in Q1 2025.

This initiative aims to expand seismic coverage and integrate new data into SDX’s existing network. As Morocco’s sole independent gas producer, SDX Energy continues to work closely with ONHYM.

Together, they strive to ensure a stable gas supply to local industries, fostering economic growth and energy independence in the region.

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