SDX Energy Incorporation provided an operational update on its Moroccan assets. The Gharb Centre exploration permit, covering an area of over 1362 km2, has been awarded to SDX for a period of eight years, with a firm commitment from SDX for the acquisition of 200km2 of 3D seismic, and two exploration wells within the first four year period, according to SDX press release.
The Gharb Centre area comes with a considerable quantity of recently acquired 2D and 3D seismic which has established multiple target horizons throughout the Miocene-aged strata, similar to what the company produces from in its surrounding licenses. The activity at Gharb Centre complements the work programs at both Sebou and Lalla Mimouna, where development and exploration wells are planned for the second half of 2017, as previously announced, Your Oil and Gas News informed.
Pre-drilling activity is now underway in both permits where the tendering process for drilling rigs and associated services has been initiated. SDX has also received partner approval for seven drilling locations in these permits and is targeting the start date for the program to be late Q3 of 2017.
SDX Energy’s CEO, Paul Welch, said “We are very pleased to have expanded our footprint in Morocco with the award of the Gharb Centre exploration permit. Given the amount of 2D and 3D seismic acquisition that has been undertaken in the past, we believe there is clear potential for material upside in this concession that can be easily tied into our existing infrastructure. This acreage connects the Lalla Mimouna exploration permit with the Sebou producing concession enabling us to see the complete basin picture and thus high grade the opportunity data-set that we develop.”