Rabat – UK-based energy company SDX Energy announced on Tuesday the completion of its testing operations on the KSR-21 well near Sebou Central in the Gharb Basin in Morocco.
The well was drilled to a total vertical depth of 1,955 meters, resulting in a flow rate of approximately 4 Million standard cubic feet per day (MMcf/d) during the test period, a statement from the company explained.
According to the statement, SDX is the sole independent gas producer in Morocco and works closely with the National Office of Hydrocarbons and Mines (ONHYM) on all aspects of development and production.
The gas from SDX’s wells is sold to multiple off-takers in the Kenitra industrial area, the statement adds.
The MENA-focused energy company first announced the discovery of a gas reservoir near Sebou Central in the Gharb Basin in September of this year.
Drilling data from the well has also confirmed the presence of gas-charged sands within the targeted reservoir section, which is a promising indication for potential gas reserves.
In the same month, SDX Energy said that it entered into an agreement with an undisclosed company to divest all of its Egyptian assets to focus on its operations in Morocco.
The move aimed to “optimize its asset portfolio and concentrate on expanding its presence in Morocco’s energy transition sector.”
The transaction is expected to be finalized by the end of the fourth quarter, SDX Energy said in the statement.
The company announced in July of this year that it secured substantial funds for the expansion of its gas production in Morocco under a loan agreement with Aleph Finance, amounting to up to $3.25 million.
An initial sum of $2 million has already been drawn and will be utilized for various purposes, including reducing outstanding debt to the European Bank for Reconstruction and Development, and expediting the Moroccan drilling campaign, the company said.
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