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SDX Energy starts drilling BMK-2 well in Morocco Rharb Basin

SDX Energy studies transfer of assets from Egypt to Morocco
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British Energy Company SDX announced on Wednesday the start of drilling operations for the Beni Malek-2 well (BMK-2) in the Rharb Basin of Morocco. The Company indicated that the new well is located around 1.5 kilometers from the Beni Malek-1 discovery well.

With a planned drilling depth of approximately 1,470 meters, SDX seeks to target three stacked reservoirs within the Guebbas formation, which have been identified through 3D seismic technology.

This drilling initiative follows the successful outcome of the KSR-21 well drilled in September and is part of an ongoing drilling campaign in the region.

The statement indicated that positive results from BMK-2 would prompt swift completion and connection for production to supplement existing output, notably meeting the increasing gas demand from SDX’s largest customer, CITIC Dicastal.

The same source highlighted that gas extracted from SDX’s wells serves various off-takers in the Kenitra industrial area.

The British Energy Company seeks to establish itself as a significant gas producer in collaboration with its partners, the Office National des Hydrocarbures et des Mines (ONHYM), across all stages of development and production.

For context, SDX owns a 75% operated working interest in a Moroccan portfolio that comprises the Sebou Central, Gharb Occidental, Moulay Bouchta Ouest, and Lalla Mimouna Sud exploration permits, as well as multiple exploitation concessions with producing wells.

The British Company announced earlier this year the renewal of its gas prepayment agreement with DIKA MOROCCO AFRICA (DMA), a subsidiary of the Chinese group CITIC Dicastal, for $2.1 million to cover gas deliveries in the first quarter of 2024.

It further stated that the KSR-21 well, which was drilled and tested in the fourth quarter of 2023, SDX revealed that it has been integrated into the existing infrastructure and is ready for production pending government approvals.

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