Petroleum Africa
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Monday, June 5, 2023
SDX Energy announced that together with the Moroccan Office National des Hydrocarbures et des Mines (ONHYM), has renegotiated a gas sales agreement with one of its key customers in Morocco aligned with the regional development strategy and consequently will receive a higher gas price for production with effect from May 1, 2023.
This price increase will enable SDX to expand its exploration and production in Morocco, and permitting for the summer drilling campaign has already commenced.
Jay Bhattacherjee, Interim Executive Chairman, said: “We are delighted that we have been able to renegotiate the gas sales agreement with one of our key customers and would like to thank ONHYM for its continued support. Morocco remains a core area for us and we endeavor to expand our energy provider footprint in the country.”
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