SDX Energy Renegotiates Gas Sales Agreement in Morocco

SDX ENERGY PLC and the Office National des Hydrocarbures et des Mines (ONHYM) renegotiated a gas sales deal with one of its biggest customers in Morocco, announced SDX ENERGY Monday.
In accordance with the regional development strategy, the negotiations will allow receiving a higher gas price for production with effect from 1 May 2023.
The company said that permits for the summer drilling campaign have already been obtained, allowing the company to boost its exploration and production in Morocco as a result of the price hike.
Morocco remains a core focus for SDX and the Company is well placed to seize the opportunities presented by a very demanding energy market, added the company.
“Morocco remains a core area for us and we endeavor to expand our energy provider footprint in the country,” said Interim Executive Chairman Jay Bhattacherjee.
SDX Energy, created in October 2015, is an international energy company based in London. The company successfully listed on the Alternative Investment Market (AIM) of the London Stock Exchange, raising US$11 million in the process.