SDX Energy - WEST GHARIB PSA EXTENDED FOR 10 YEARS
SDX Fri, 05 Mar 2021, 11:48am GMT
DX is an international oil and gas exploration, production and development company, headquartered in London, England, UK, with a principal focus on North Africa. In Egypt, SDX has a working interest in two producing assets (50 per cent. North West Gemsa and 50 per cent. Meseda) located onshore in the Eastern Desert, adjacent to the Gulf of Suez. It also has a 55 per cent. operated working interest in the South Disouq concession, located in the Nile Delta, where a gas discovery was made by the SD-1X well in 2017. In Morocco, SDX has a 75 per cent. working interest in the Sebou concession situated in the Rharb Basin. These producing assets are characterised by exceptionally low operating costs making them particularly resilient in a low oil price environment. SDX's portfolio also includes high impact exploration opportunities in both Egypt and Morocco.
Industry: Oil & Gas
Mark Reid, CEO of SDX, provides an update following the receipt of final approval from the Egyptian authorities to extend the Production Services Agreements governing the producing Meseda and Rabul oil fields in its West Gharib concession in Egypt until 9 November 2031.