British company SDX Energy has completed a major data reprocessing project that combines over 650 square kilometers of 3D seismic data, enhancing its ability to target productive gas resources in Morocco.
In an official statement, the company said that the successful reprocessing has bolstered its confidence in a key 47 billion cubic feet (Bcf) gas play, which could represent a valuable addition to its portfolio.
SDX’s recent data reinterpretation of subsurface data identified multiple clusters of high-potential gas resources, with estimates suggesting up to 47 Bcf of recoverable gas.
The statement underscored that if successfully evaluated, SDX plans to develop this using multi-lateral drilling techniques, and given Morocco’s gas prices, this asset could significantly boost SDX’s reserves.
The company emphasized strong demand from current and future industrial buyers and has engaged potential funding partners to develop these opportunities.
The statement added that SDX has identified an exploratory drilling location and is set to begin the Environmental Impact Assessment, aiming for completion by early Q1 2025, with plans for full-field development by mid-2025.
The Company has also pinpointed two new drilling locations, KSR-22 and OLME-A, and is finalizing land permits for each. SDX said that the integrated seismic data has enhanced the accuracy of these prospects, which have unrisked mean gas estimates of 2.4 Bcf and 0.6 Bcf, respectively. The next drilling campaign is set to begin in Q4 2024.
The British company is additionally engaged in advanced discussions with two international corporations valued in the billions, according to the statement, aiming to strengthen their partnership and expedite SDX’s gas exploration and production initiatives in Morocco.
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