UK-headquartered exploration and production company SDX Energy has made a new gas discovery at its SD-12X well in the South Disouq Concession, Egypt.
The SD-12X well is located in the South Disouq Exploration Permit onshore Nile Delta, Egypt. SDX owns a 55% working interest (WI) in the concession.
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The well encountered 108ft of net high-quality gas bearing sands. Around 24 billion cubic feet (bcf) of gas was confirmed with the discovery.
The MENA-focused oil and gas company said it will need only one development well to be drilled and that such drilling may not be possible for another two to three years.
The SD-12X well is expected to be tied-in to South Disouq’s production facilities in 2021 via a connection to the Ibn Yunus-1X location 5.8km away.
It is expected that this will cost around $3.5m.
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By GlobalDataSDX Energy CEO Mark Reid said: “This is an excellent result for SDX and fully justifies our confidence to drill this well on a sole risk basis. South Disouq represents our flagship asset and in the current economic climate this fixed price, low cost gas development is highly cash generative for the group.
“The Sobhi discovery has the potential to extend the current South Disouq plateau production of 50 MMscfe/d through to 2023/24 with a low-cost tie in, utilising the existing gas processing plant. We look forwarding to updating the market further following the testing of the well.”
In June 2018, SDX Energy made a new gas discovery at its SD-4X well in the South Disouq Concession.
Last October, the company started a 12-well drilling programme at Gharb Basin acreage in Morocco.
In June last year, the company discovered oil at its Rabul-7 development well in the West Gharib Concession of Egypt.
