(MENAFN) A new gas deposit in Egypt's South Disouq has been discovered, London-based SDX Energy announced, as reported by IOL.
SDX Energy is involved in the exploration, development and operation of oil and gas properties, mainly focusing on Egypt. The testing at the SD-4X well where the discovery was made will begin 30-45 days after the rig departs.
If the testing is successful, production is projected to start in the fourth quarter of this year.
"We are extremely encouraged by today's result at South Disouq," president and CEO of SDX Paul Welch said.
"We will now accelerate our development activity in the area. It's our intent to establish production from both the South Disouq and Ibn Yunus areas before year end 2018," Welch added.
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