Gas field of Egypt - REUTERS
CAIRO – 31 May 2017: Canadian SDX Energy announced results of SD-1X well drilling saying it holds dry natural gas rate of 25.8 million cubic feet of gas per day at the South Disouq concession, the company said on Monday in a press release on its website.
SDX Energy said the results exceeded its initial expectations and will lead to changes in the development plan proposal submitted by the company to the Egyptian General Petroleum Corporation (EGPC.)
“Underpinned by the strong local gas demand, (the latest) news is highly positive and confirms the overall success of the recent SD-1X campaign,” CEO of SDX Energy Paul Welch said.
The North Africa-focused oil and gas company started drilling operations of the well, which is located in the Nile Delta area, in March.
SDX Energy holds 55 percent stake in the South Disouq concession, which was acquired in a 2013 bid by the Egyptian Natural Gas Holding Company (EGAS).
In 2016, SDX Energy announced boosting its investments from $9 million to $17 million, according to country director Ahmed Moaaz.
The company also owns 50 percent stake in North West Gemsa and 50 percent in Meseda concessions in the Gulf of Suez.