By Neaman Lerhmari
By Neaman Lerhmari
Rabat – Why are the big names of the oil and gas industry after Morocco? The question is not something to lose sleep over: the kingdom is politically stable, has an attractive legal framework, and is possibly sitting on important gas fields.
The possibility was confirmed by Sound Energy, the British company who acquired two exploration licences in Meridja and Tendrara, in the east of Morocco. They respectively cover a total area of 8,863 and 5,185 square kilometers.
On December 11, SDX Energy, another British exploration company, made a new gas discovery in Sebou river in Kenitra, in the west of the country. The well, code-named KSR-16, is the 16th discovered by the company, who affirmed that gas is present in sufficient quantity.
This third discovery comes exactly a month after the one made on November 13 at SDX’s KSR-15 development well on the Sebou permit. This well was drilled to a total depth of 1,774 meters, uncovering 17.2 meters of net conventional natural gas reservoir across four intervals, explained the company is a press release.
SDX expects that the well will be connected to the existing infrastructure and on production in early December.
SDX’s previous development well, called KSR-14, which was drilled in September and is already connected to the existing infrustrure, will be tested this current week.
The British exploration company entered the Moroccan market earlier this year in January, after acquiring Circle Oil’s shares in Morocco for USD 30 million. The British company is now endowed with an eight-year permit to drill for gas in the Gharb basin.
In addition, the company successfully renewed their permit for the Gueddari North-West (expires in 2019), Gueddari South (expires on January 18, 2020), Sidi Al Harati South-West (September 20, 2023), and Ksiri Centre (January 18, 2025) sites.
In total, SDX Energy obtained licences for seven drilling sites from the National Office of Hydrocarbons and Mines (ONHYM). The latter holds 25 percent of working interests of SDX Energy’s activity in Morocco.