Morocco : DX Energy heralds promising gas discoveries --[Reported by Umva mag]

Pending approval from the Moroccan National Office of Hydrocarbons and Mines (ONHYM), SDX Energy is targeting two new drilling targets, KSR-22 and OLME-A, with estimated risk-free volumes of 2.4 billion cubic feet (bcf) and 0.6 bcf respectively.

Following the completion of a major data reprocessing project, SDX Energy has decided to step up its exploration efforts in Morocco with significant advances now focused on identifying gas resources deemed promising.

With an estimated potential of 47 bcf of gas, SDX Energy recently announced the discovery of two new drilling targets, representing more than 3 bcf of gas. These developments come as the company is in talks with the Moroccan government to exploit an unconnected gas well, paving the way for additional revenues.

At the same time, SDX Energy plans to launch a tender for the acquisition of 150 square kilometres of 3D seismic data, aimed at discovering new gas reserves. Advanced discussions with two international partners could accelerate exploration and production efforts.

The company recently completed the reprocessing of more than 650 square kilometres of 3D seismic data, entrusted to Absolute Imaging.

The aim of this project was to merge five seismic surveys into one, thereby improving the consistency and structural resolution of the data. An AVO inversion analysis is planned to refine the identification of hydrocarbon indicators, with results expected by the end of 2024.

Re-interpretation of the data has revealed several amplitude groups, suggesting a recoverable potential of 47 bcf of gas. If confirmed, the project could be developed using multilateral drilling techniques. SDX Energy sees strong demand for gas from Moroccan industries and is in discussions to secure funding for this opportunity.

The drilling campaign is expected to start in the fourth quarter of 2024. In the meantime, SDX Energy is awaiting approval from the ONHYM to connect an existing gas well to its network, which could generate
revenue in the short term.

Other wells could also be connected, subject to further negotiations with ONHYM.

SDX Energy is preparing for an exciting phase with the planned launch of a tender to acquire 150km² of 3D seismic data in the first quarter of 2025. The aim of this initiative is to extend seismic coverage and integrate the new data into SDX’s existing network.

As the only independent gas producer in Morocco, SDX Energy continues to work closely with ONHYM to ensure a stable supply of gas to local industries.

RT/ac/Sf/fss/as/APA

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