SDX Energy plans immediate production from Egyptian play

A map showing SDX's assets in Egypt
A map showing SDX's assets in Egypt

SDX Energy has found oil in its North West Gemsa prospect in Egypt.

The London-listed explorer said the well, Al Amir SE-24 (AASE-24), was drilled to a depth of 9,925 feet where both the Shagar and Rahmi oil reservoirs were encountered, hitting 15 feet of net pay Shagar and 7 feet in Rahmi.

The well has been completed as an oil producer in the Shagar and flowed oil at a rate of 1,714 barrels of oil per day, as well as 3mln cubic feet of associated gas.

The well has been connected to the existing facilities and it will be placed on production immediately.

Chief executive Paul Welch, said: “The AASE24 well is expected to be another strong producer from the Shagar and is the second of two successful development wells to be drilled in the field this year.

“The results of these two development wells combined with a 9 well work-over program, which his currently underway, will allow us to maintain production at a plateau rate of 8,000 Boepd for the remainder of 2016.”