Page 7 - AfrOil Week 34 2021

AfrOil PERFORMANCE AfrOil

Libya is currently producing around 1.3mn bpd of crude oil (Image: WOC)

El Kaber told Bloomberg that he wanted to see rare interview.
Libya increase crude oil production by 40% to Oil is virtually the sole source of income for
about 1.8mn bpd from 2022 onwards. Unless the beleaguered North African country. Lib-
yields rise to this higher level, the country will ya’s oil revenues are expected to reach $25bn in
probably struggle to cover its reconstruction 2021, compared with $3.6bn in 2020. Expand-
and development costs, state expenditures, and ing crude output could generate up to $35bn in
to implement economic reforms, he said in a additional revenue next year. ™

North Africa-focused SDX Energy

reports output up in Egypt, Morocco

EGYPT/MOROCCO SDX Energy’s financial and operating results
for the three- and six-month periods ending on
June 30, 2021, showed rising output, according
to a company press release.
The North Africa-focused firm’s producing
assets in Egypt and Morocco performed well,
with production at 5,931 barrels of oil equivalent
per day 9boepd) in the first half (January-June)
2021, coming in 3% higher than the 2021 mid-
point market guidance of 5,770 boepd. It was 4%
lower than the first half of 2020, though, mainly
because of natural decline, well workovers and
expected sand and water production in two of
the five wells at South Disouq in Egypt. The West Gharib field is in Egypt (Photo: SDX Energy)
Capex guidance for Morocco for the
12-month period ending on December 31, 2021, In South Disouq, the IY-2X step-out develop-
has been increased by $1.5mn as wells planned ment well, the first of a two-well campaign, was
for the second phase of 2021 drilling are deeper spudded in late June 2021. The well was drilled
than those included in the original guidance. to a measured depth of 8,025 feet (2,446 metres),
Meanwhile, capex of $15.8mn was within encountering 40.5 feet net-pay of high-quality
guidance for Egypt’s South Disouq and West gas-bearing sands, with an average porosity of
Gharib. This resulted in the group’s 2021 capex 23.4%, near the base of the Kafr El Sheikh (KES)
guidance being revised to $26.5-$28mn. formation.

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