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UK’s SDX Energy announces plan to exit Egypt

UK’s SDX Energy announces plan to exit Egypt
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Cairo – Mubasher: UK-based SDX Energy has announced that it will fully exit Egypt after selling interests in West Gharib and South Disouq oil concessions.

The company stated that it sold its interests in West Gharib’s concession for $6.60 million, according to a statement.

SDX said that it will focus on growing its assets in Morocco and executing its energy transition strategy.

Daniel Gould, CEO of SDX Energy, commented: “The sale of our West Gharib assets represents a milestone in the execution of our new growth strategy in Morocco. SDX will continue to deliver shareholder value and growth - re-energising and scaling the company's Moroccan upstream business.”

“We will also continue to carry out due diligence for SDX's medium-term expansion into the vertical adjacencies of gas transportation, gas-to-power, and renewable energy generation,” Gould added.