“We aim to produce in the range of 25,000 to 30,000 barrels per day”, says Paul Welch, CEO of SDX Energy, while talking to Malcolm Graham-Wood, Oil Analyst at Malcy’s Blog, on today’s CEO interview segment.
Welch updates viewers about the agreement to purchase producing oil and gas assets in Egypt and Morocco from Circle Oil PLC. Both projects are ‘cash cows’.
Acquisition aimed at expanding asset base in the North Africa region
The company will acquire 40% stake in the Nw Gemsa concession in Egypt, taking the total to 50%
Welch expects political and economic climate in Egypt to improve from here.