SDX Energy gave a progress report on it operations in Egypt and Morocco, with the firm being particularly pleased with the progress on three of its four Egypt wells. “We are looking forward to first gas in South Disouq expected at the end of the year and are excited by the new Kafr El Sheik prospectivity that we have identified in the concession,” Paul Welch said in a company statement. All in all, the company expects production at the concession to reach 55-60 mcf/d of natural gas, and 500-600 bbl/d of crude. SDX Energy had announced last week making a new gas discovery on Saturday (pdf) at the SD-4X well at its South Disouq concession, expecting to begin production in 4Q2018.
More from Enterprise
Central Bank of Egypt looks to renew USD 2 bn Kuwaiti deposit as regional conflict stalls FDI conversions
The maturing USD 2 bn deposit is expected to be…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Ceasefire optimism triggers EGX30 rally and EGP recovery
The EGP gained around 2.5% on the greenback by the…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…