SDX company announced a new commercial discovery at Sobhi Well, which is located in the South Disouq Exploration Permit onshore Nile Delta, saying that the well has encountered 108 feet net of high-quality gas- bearing sands with an average porosity of 20%, according to a statement published by the company.
The company elaborated that the management estimated that the well has encountered around 24 billion cubic feet of equivalent (bcfe) of recoverable gas and condensate resources exceeding the minimum commercial volume of eight bcfe.
SDX added that they are completing the drilling operations of the well and preparing for testing in the coming weeks.
Mark Reid, CEO of SDX, commented on that discovery saying “This is an excellent result for SDX and fully justifies our confidence to drill this well on a sole risk basis. South Disouq represents our flagship asset and in the current economic climate this fixed price, low cost gas development is highly cash generative for the Group.”
“The Sobhi discovery has the potential to extend the current South Disouq plateau production of 50 Mscfe/d through to 2023/24 with a low-cost tie in, utilizing the existing gas processing plant. We look forwarding to updating the market further following the testing of the well”, he added.
The company’s management expects that Sobhi will be tied to the Ibn Yunus- 1X location in 2021.