(Ecofin Agency) - SDX Energy Inc. in its operational update on activities at its South Disouq asset located onshore Nile Delta Egypt, announced that the 3D seismic programme which commenced on March 16, 2016 has been completed.

This programme involved the procurement of 300 km² of 3D data.

According to the company, the 3D seismic was concluded safely, under budget and ahead of schedule. Data processing is to begin immediately and is expected to last for 3 months.

SDX operates the South Disouq asset with a 55% equity interest. The company plans to use the processed data to construct a potential inventory with the aim of choosing a location for a completely carried exploration well, expected to be drilled in late 2016.

“We are delighted that the seismic programme has been completed early and we are excited to begin fully processing the data. The initial data set is of high quality and shows evidence on our block of the Abu Madi trend, along which operators have made large commercial discoveries in recent years. Additionally, this new data has allowed us to image deeper stratigraphy much better than originally anticipated which opens up a new range of potential targets within the block, several of which may be oil bearing. Whilst our principal strategic focus is on generating profitable cash flow via our high-margin producing assets, exploration represents an important part of our growth strategy and we look forward to drilling this high impact and carried exploration well later this year,” Paul Welch, CEO of SDX told Energy Egypt.

Anita Fatunji