Marrakech, Morocco - SDX Energy is accelerating its gas exploration operations in Morocco, following the successful completion of a major data reprocessing project. The company has set its sights on unlocking a substantial gas potential of 47 billion cubic feet (Bcf), positioning itself for a new era of growth and productivity.
In its latest announcement, SDX Energy revealed the identification of two new drilling targets, with over 3 billion cubic feet of gas. The company is now in advanced discussions with the Moroccan government regarding the connection of an unlinked gas well, a move that could unlock additional revenue streams for SDX.
As part of its exploration strategy, SDX Energy plans to launch a tender for the acquisition of 150 square kilometers (km²) of 3D seismic data, aiming to expand its exploration footprint. This data will pave the way for fresh gas discoveries, further enhancing the company’s presence in Morocco’s growing energy market.
Recent advancements include the completion of the reprocessing of over 650 km² of 3D seismic data by Absolute Imaging, which merged five seismic surveys using consistent parameters. This technical achievement has improved coherence and structural resolution, boosting the prospects for new drilling operations. The reinterpreted data highlights the potential of several gas reservoirs, and SDX has earmarked 47 Bcf of recoverable gas.
SDX Energy plans to conduct an AVO inversion analysis by the end of 2024, which will refine the identification of hydrocarbon indicators. The upcoming exploration well will target multiple stacked anomalies, expected to confirm the presence of gas.
Two key drilling targets have been announced: KSR-22 and OLME-A, with estimated unrisked volumes of 2.4 Bcf and 0.6 Bcf, respectively. The drilling campaign is scheduled to commence in the fourth quarter of 2024, with SDX poised to capitalize on the demand for gas from Moroccan industries.
Additionally, SDX is awaiting approval from ONHYM (Office National des Hydrocarbures et des Mines) to connect an existing gas well, which could generate immediate revenue. Future wells may also be connected, contingent upon further negotiations with the Moroccan energy authority.
The company’s seismic data acquisition initiative, set to begin in the first quarter of 2025, will expand SDX's operational coverage. SDX is also in discussions with two international firms to secure financing for its drilling campaign, driven by anticipated gas revenues.
"As Morocco's only independent gas producer, SDX Energy remains committed to working closely with ONHYM to ensure a stable supply of gas to local industries," the company stated. Advanced negotiations with international partners are expected to accelerate SDX’s gas exploration and production efforts, bolstering Morocco’s position as an emerging energy hub.
