Petroleum Africa
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Sunday, February 5, 2017
SDX Energy Inc. issued an update on activity in Egypt and plans for its Moroccan licenses recently acquired from Circle Oil. In Egypt on the South Disouq, the company said that following the recent interpretation of 3D seismic data and the subsequent identification of oil and gas bearing prospects, SDX and its partner have agreed on the location for drilling the exploration well.
SDX has contracted Zenith Energy to provide technical assistance for the drilling operations. In addition to working with Zenith Energy, SDX has signed a LoI with Sino Tharwa Drilling Company, the rig contractor, who will supply the Sino-Tharwa 6 rig at South Disouq. The rig is due to arrive late February 2017 with the carried exploration well being spud shortly thereafter.
At its Meseda concession, following completion of the design work on the ESP program, SDX has now completed the final technical review of the Meseda facility upgrade. It is now moving into the implementation phase during Q1 2017. The equipment procured for the upgrade is expected to double the treatment capacity of the CPF. This will allow it to maximize the field’s potential and enable it to target up to a 100% increase on current production levels from the license. Once the facilities upgrade is complete, the workover program will recommence.
As for Morocco, SDX said that it is reviewing options to accelerate the drilling campaign originally planned for 2018. It is currently undertaking an internal review of the area’s identified prospectivity and high grading the prospect portfolio. Concurrent with this, the company is surveying the rig market to determine timing and availability of suitable equipment for these operations. It is the company’s objective to accelerate drilling and increase gas production in Morocco during 2017.
Paul Welch , CEO of SDX Energy, commented: “Today’s announcement highlights that we are entering an exciting period for the company as we move into the drilling phase of our work programme at South Disouq. Solid operational progress was made throughout 2016 and we have continued to build on this momentum in order develop the exploration potential of the concession, as evidenced by the signing of an LOI with Sino Tharwa and the appointment of Zenith Energy. In addition to South Disouq, we have seen good progress made at Meseda with the completion of the final technical review, leaving us well placed to start on the construction activities, which will maximize production from this asset. Closing the recent acquisition has provided the company with the ability to further grow our production base in both Egypt and Morocco and it is our intent to do so in the near term. The company is off to a very good start in 2017 and I look forward to reporting on the progress of our activities in subsequent periods.”
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