The British society Sdx Energy plans to exit the Egyptian market and look to foreign markets, including the Kingdom of Morocco, after receiving offers to sell its assets in Egypt. According to the website ” Attack“, the British company announced that it had received offers for the sale of its assets in Egypt and expressed its interest in other countries, in particular Morocco.
The decision to Sdx Energy leaving Egypt seems to coincide with that country’s desire to increase its oil exports by 15%. It is in this sense that this company specializing in oil and gas prospecting, considers Morocco as an ideal destination for its investments over a period of five years. According to a report, the British company already has several projects in Morocco, including five gas exploration licenses in different regions with an exploitation rate exceeding 70%.
Economic expert, Youssef Nassiri pointed out that Morocco has been an attractive country for foreign investment in all areas for more than ten years and that it no longer needs to prove its ability to accommodate huge investments. The Moroccan energy and mining sector attracts international companies, especially since the adoption of new laws relating to investment and to research, prospecting and exploitation of minerals, including gas and oil, said – he argued noting that many global companies, from countries such as Australia, Canada, Spain and England, are already working in this field in Morocco.
For his part, Abdessamad Melaoui, an energy expert, pointed out that Morocco has a solid investment structure capable of receiving significant capital from countries such as Great Britain, through companies such as Sdx Energy.
He added that Morocco’s national energy strategy is mainly aimed at diversifying its international partners, and the arrival of Sdx Energy and other companies is part of this perspective. Morocco is also seeking to strengthen foreign investment in renewable energies and other forms of energy, such as natural gas, in order to meet its growing needs, he underlined.
Thus, British society Sdx Energy plans to transfer its assets from Egypt to Morocco, as part of its efforts to seize the investment opportunities offered by the booming Moroccan market.