Exploration and Production in Morocco - SDX Energy's success story
Morocco has a very attractive investment environment and huge exploration potential within the oil and gas sector, often referred to by many as one of the last remaining frontiers in North Africa.
Morocco’s current hydrocarbon exploration developments, and immense oil and gas potential reveal a lot of available and future business opportunities.
The Moroccan sedimentary basins have many viable petroleum systems, brimming with hydrocarbon potential available to be accessed. To this day, only 338 onshore and offshore exploration wells have been drilled, 43 offshore and 295 onshore.
There are many major companies operating in Morocco, none more prominent these days than SDX Energy. Morocco has many opportunities and favourable terms for smaller companies as well.
SDX Energy has a history of success in Morocco.
In March 2018, SDX Energy officially confirmed a gas discovery at its SAH-2 well on the Sebou permit, with the reservoir thickness far-exceeding pre-drill expectations.
SDX Energy encountered an entirely new gas system in April 2018, located in the LNB-1 well, which is an exploration well in the Lalla Mimouna concession. This discovery is significantly larger than most recent discoveries in the Sebou area, estimated at 10.2bn cubic feet of conventional natural gas and 55,000 barrels of condensate.
This discovery followed the ONZ-7 discovery made by SDX on the Gharb basin permit, a discovery that surpassed all initial forecasts. This took place a few weeks after SDX drilled the ELQ-1 well, also located in the Gharb Centre permit, and deemed it to be not sufficiently commercial. This proves that opportunity in Morocco is just around the corner, and that options are plenty and profitable.
The Moroccan field was described by Paul Welch, President & CEO of SDX Energy as a “simple business” with the gas needing “little to no treatment,” no royalties paid to the Moroccan government thanks to a 10-year tax holiday, low drilling costs, and a pipeline capable of 24m cf per day currently transporting 6m cf/day.
Find out more about these opportunities first-hand from Paul Welch, by attending the and hearing from SDX Energy, ONHYM, and all major operators.
The 2nd Morocco & West Africa Oil & Gas Summit is the Official Summit for the hydrocarbons industry of Morocco. The event will take place at Marrakech from 6th to 7th February 2019.
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