Petroceltic Awarded Adriatic Sea Permit

Petroceltic International announced Thursday that it has been awarded an exploration permit in the central Adriatic Sea, offshore Italy. The firm described the award of the B.R272.EL permit as a "significant step forward" in the development of its central Adriatic portfolio.

The permit covers a block of some 180 square miles and lies around 9 miles from the Elsa discovery and the producing Rospo Mare field. It contains the Turchese prospect, which Petroceltic describes as having high potential.

The work program for the initial six-year phase of the exploration permit includes a 3D seismic acquisition program.

Petroceltic also reported that Eni, the operator of the Carisio permit in the Western Po Valley, has lodged an application for a further extension of the permitting process there until June 30 2013. The extension will allow Eni to present a revised well location that takes into consideration local concerns. Petroceltic has a 47.5-percentr interest in the permit.

Petroceltic Chief Executive Brian O'Cathain commented in a statement:

"Permit B.R.272.EL brings significant additional potential to our Adriatic portfolio directly adjoining and on trend with the Elsa oil discovery. We look forward to working with the relevant Ministries to enable the commencement of seismic operations in this highly prospective region.

"Petroceltic is fully committed to operating in an environmentally sensitive manner in all its operations and will continue to work with all partners and stakeholders to support the National Energy Strategy's objective of doubling Italian oil and gas production by 2020."



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Instrumentation & Electrical Project Estimator
Expertise: Electrician|Estimating|Project Management
Location: Spring, TX
 
Rockies Regional Instrumentation & Electrical Operations Manager
Expertise: Business Development|Electrician|Operations Management
Location: Durango, CO
 
Operator Assistant
Expertise: Regulatory Compliance|Rig Mover|Wireline
Location: Bakersfield, CA
 
search for more jobs

Brent Crude Oil : $53.96/BBL 0.35%
Light Crude Oil : $51.36/BBL 0.21%
Natural Gas : $3.209/MMBtu 0.34%
Updated in last 24 hours