British Firm SDX Energy Uncovers Major Natural Gas Reserves in Morocco

Following an in-depth analysis of 3D seismic data covering more than 650 square kilometers, SDX Energy has discovered substantial natural gas reserves, estimated at 47 billion cubic feet, in the western basin of Morocco. These reserves are a valuable asset for the British company, particularly due to current gas prices in Morocco. SDX Energy plans to exploit them using the latest multilateral drilling technologies, while confirming strong demand from the local market for the discovered gas.

At the same time, SDX Energy is conducting a more in-depth analysis of the seismic data to assess geological risks and more precisely determine the volume of reserves. The company has also identified two new drilling sites following the analysis of recently processed seismic data. The start of work on the first well is scheduled for the fourth quarter of 2024, with a more extensive drilling campaign planned for early 2025 to develop the gas field.

According to the company’s estimates, there are promising reserves in two new wells, with initial assessments of unproven reserves of approximately 2.4 billion cubic feet for the first well and 0.6 billion cubic feet for the second. In addition, SDX Energy plans to start new drilling operations during the last quarter of the year, with prospects for commercial production in the near future.

SDX holds a direct 75% stake in its entire Moroccan portfolio, which includes exploration permits and gas concessions and wells.