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Rabat – London-listed energy company SDX Energy announced on Wednesday initiating drilling operations for the Beni Malek-2 well (BMK-2) in the Gharb Basin of Morocco.
In a statement, SDX Energy says that the new well is positioned approximately 1.5 kilometers from the BMK-1 discovery well. The new well is set to tap into three stacked reservoirs within the Guebbas formation, leveraging advanced 3D seismic technology for precise targeting.
With a planned drilling depth of around 1,470 meters, BMK-2 represents a pivotal step in SDX’s ongoing exploration campaign in Morocco, the company explains.
The move comes on the heels of the successful KSR-21 well-drilled back in September 2023.
SDX Energy says that the significance of BMK-2 extends beyond exploration. If the drilling proves fruitful, SDX intends to swiftly complete and integrate the well into its production infrastructure.
The move aims to bolster existing production levels and to cater to the demands of client CITIC Dicastal, SDX’s largest offtaker. SDX’s gas supply also serves multiple offtakers within the Kenitra industrial area.
The company maintains a close partnership with the Office National des Hydrocarbures et des Mines (ONHYM), collaborating across various development and production facets.
In January 2024, SDX Energy disclosed a gas prepayment deal extension with CITIC Dicastal subsidiary, Dika Morocco Africa (DMA). The agreement, totaling $2.1 million, ensures gas supply for the first quarter of 2024.
SDX Energy further announced that the KSR-21well, which was successfully drilled and tested in Q4 2023, has now been connected to existing infrastructure and will begin producing as soon as the company gains regulatory approval.
The company equally announced a confirmed agreement with a buyer on the terms of a contract to sell its West Gharib assets in Egypt. The announcement added that the closing of the transaction remains subject to the completion of certain approvals, including by the Egyptian government.
Read Also: SDX Energy Secures $2.1 Million Gas Prepayment Deal in Morocco Permits
