SDX renegotiates gas sales agreement in Morocco
UK-listed SDX, in collaboration with the Office National des Hydrocarbures et des Mines (ONHYM), has successfully renegotiated a gas sales agreement with one of its customers in Morocco, SDX announced on June 5.
The company said that the revised agreement aligns with the regional development strategy and grants SDX a higher gas price for production, effective from May 1, 2023.
The increased gas price provides SDX with the opportunity to expand its exploration and production activities in Morocco. The company has already initiated the permitting process for its upcoming summer drilling campaign.
"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 endeavour to expand our energy provider footprint in the country,” Jay Bhattacherjee, interim executive chairman of SDX, said.