SDX announced that it has achieved average gross production of 38.5 million standard cubic feet per day (mmscf/d) (2,720 barrels of oil equivalent per day (boe/d) net to SDX) from South Disouq concession in addition to an average gross production of 2,033 boe/d (389 boe/d net to SDX) for the full year 2022.

In a statement about its operational results in South Disouq, SDX said that it drilled SD-5X well in Q2 2022 and put it into production which is exceeding the immediate post-drill volume expectations and it is predicted to get more volumes.

It also expects that work over operations will be performed during 2023, on SD-3X and SD-4X wells, recompleting the wells to shallower reservoirs to maximize recovery, and on IY-2 to restart production from the existing reservoir.

Per West Gharib, the company said that it continued its development infill drilling campaign since October 2022, with FDLN-2 and Rabul-9 having been drilled, completed and brought on-line. This brings the total number of wells drilled in the current campaign to eleven.

Additionally, it stated it is continuing in the work-over operations on the existing well-stock to maximize recovery from the fields noting that the operator is evaluating options to increase recovery and plans to bring water injection on the Rabul field.

In this regard, Jay Bhattacherjee, Executive Chairman of SDX, commented: “Since my appointment to SDX, we have made solid operational progress, particularly in Egypt despite the current volatile currency situation in the country. We are pushing forward to create a sustainable and repeatable strategy to be a leading player in the energy sector and I am confident that through a disciplined approach, we will have the opportunities to deliver future growth as we implement changes to the business for the benefit of our shareholders.”