SDX Energy Inc, an Egyptian focused oil and gas company, revealed that the quality of the 115 sq.mile 3D seismic data acquired over the South Disouq concession surpassed expectations, reported Rigzone.
The subsidiary to Canadian Sea Dragon Energy’s (SDX) explained that the initial analysis of the seismic data set identified large prospects in the Abu Madi section and Kafr El Sheikh formation. These gas and condensate prospects and leads are located in traps similar to those identified in the offset areas. In addition, early stage analysis has identified deeper oil-bearing potential in both the Abu Roash and AEB horizons, which are oil producers in the Western Desert region of Egypt, according to Your Oil and Gas News.
South Disouq has potential in both the primary targets normally found in the Nile Delta, as well as the older horizons that are productive across the Western Desert. Furthermore, SDX plans to have an independent third party auditor verify the internal assumptions.
In related news, SDX was reported to increase its investment budget in South Disouq concession, which SDX operates with a 55% equity interest, is located in the onshore Nile Delta region, 65km north of Cairo, to reach $17m instead of the original $9m that was specified in the signed agreement with the Egyptian Ministry of Petroleum.