Bulgarian well tie-in for Petroceltic
Development will help maintain output in the region
Petroceltic remains committed to Bulgaria, Brian O’Cathain, chief executive, said. Photograph: Matt Kavanagh/THE IRISH TIMES
Petroceltic, the oil and gas exploration and production company, has reported good progress in its Bulgarian interests. A new production well in the 100 per cent owned Kaliakra field in the Bulgarian sector of the Black Sea, has been successfully tied into to the main field facilities. This will will help maintain Bulgarian production at around 30m cubic feet of gas per day.
The well was completed with a subsea wellhead and connected to the existing Kaliakra pipeline for export via the Galata platform. The well and flow line works were performed by the GSP Prometeu jack-up drilling rig and Big Foot 1 lay barge and concluded on September 10th.
“Bulgaria generates a significant proportion of the company’s revenues and we remain committed to investment in the country. Elsewhere in the region we look forward to results from the multi-well exploration drilling campaign which has recently commenced in Romania,” Brian O’Cathain, Petroceltic’s chief executive, commented.
The company, which is mainly focused on the Middle East, North Africa, the Mediterranean and the Black Sea regions, also announced that it has appointed Ian Craig as a non-executive director. Mr Craig (61) began his oil industry career with BP as a sub-sea engineer in the UK North Sea, and most recently served as EVP of sub Saharan Africa for Shell, where he was responsible for the majority of the Shell group’s West African reserves until his retirement in April 2013.