SDX Energy has, together with the Office National des Hydrocarbures et des Mines ('ONHYM'), renegotiated a gas sales agreement with one of its key customers in Morocco aligned with the regional development strategy and consequently will receive a higher gas price for production with effect from 1 May 2023.

This price increase will enable the Company to expand its exploration and production in Morocco, and permitting for the summer drilling campaign has already commenced.

Morocco remains a core focus for SDX and the Company is well placed to seize the opportunities presented by a very demanding energy market.

Jay Bhattacherjee, Interim Executive Chairman, said:
"We are delighted that we have been able to renegotiate the gas sales agreement with one of our key customers and would like to thank ONHYM for its continued support. Morocco remains a core area for us and we endeavour to expand our energy provider footprint in the country."

KeyFacts Energy: SDX Energy Morocco country profile