On 14 July 2020, SDX Energy (SDX) announced the selling of its working interest in the Al-Amir JV operating the NW Gemsa concession, onshore Gulf of Suez Basin, to Gulf Energy.  Following this USD-3-million transaction, SDX will use USD1.4 million to discharge its remaining liabilities on the concession.  SDX decided in May 2020 to sell its stake in the NW Gemsa concession. The latter comprises three production fields, each located in a development block: North West Gemsa (Dev) Geyad, North West Gemsa (Dev) Al Amir and North West Gemsa (Dev) Al Ola.   The Geyad field discovered in 2009 includes three wells and has a daily production rate of 670 bbls. The Al Amir and Al Amir Southeast/Al Ola fields discovered in 2005 and 2008 have combined gross production of 3,060 bbl/d with 11 wells. All three fields have operating costs of approximately USD 10/bbl and are fully developed.   GANOPE (50%) and North Petroleum (25%, operator) are expected to remain partners with Gulf Energy (25%) in the JV.
Egypt (Gulf of Suez B.), North West Gemsa (Dev) Geyad op. by SDX ENERGY (50%), NORINCO (50%), EGPC (0%). On 14 July 2020, SDX Energy (SDX) announced the selling of its working interest in the Al-Amir JV operating the NW Gemsa concession, onshore Gulf of Suez Basin, to Gulf Energy. GANOPE (50%) and North Petroleum (25%, operator) are expected to remain partners with Gulf Energy (25%) in the JV.