SDX Energy sells off Egyptian assets, aims expand operations in Morocco

SDX Energy is looking to exit the Egyptian market, announcing that it has signed a non-binding heads of terms with an undisclosed large multinational operator to sell off its oil and gas assets in Egypt.

The company expects to close the transaction by the end of 2023.

According to an official statement, the sale will support the company in positioning itself for “upcoming diversification into Morocco's energy transition sector”.

Currently, SDX only operates in Egypt and Morocco, with several oil and gas exploration and development assets in Egypt’s Eastern Desert and the Nile Delta. The company holds a 55 percent interest in the South Disouq and Ibn Yunus fields, and a 50 percent interest in the Meseda and Rabul fields within the West Gharib concession in the Eastern Desert.