Petroleum Africa
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Wednesday, April 26, 2017
SDX Energy updated its activities on the assets in Morocco with its acquisition of Circle Oil’s North Africa holdings.
On the Lalla Mimouna Nord and Sud permits, SDX will see the permits extended until March 2018. A drilling campaign for two wells is on schedule in H2 2017.
On the Sebou, extensions have been granted on the producing concessions of Gueddari NW, Gueddari Sud, Sidi Al Harati SW, and Ksiri Central. The extensions on the concessions vary from two years up to seven years.
The Sebou exploration permit was renewed for an additional eight years. Under the renewal SDX is committed 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.
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