Petroceltic: Algeria AT-10 Well Spudded

Petroceltic International plc announced Monday that well AT-10, located on the Ain Tsila gas and condensate field in Algeria, has been spud.

Situated in the north of the field, approximately 2 miles from discovery well AT-1 and 1.2 miles from appraisal well AT-8, AT-10 is the first of up to 24 new development wells on Ain Tsila. The well is targeting the Ordovician reservoir formation to a planned total depth of 6,525 feet.

Commenting on the update, Brian O’Cathain, CEO of Petroceltic said:

“We are delighted to start development drilling on Ain Tsila and look forward to building on the success of earlier wells in the highly productive northern part of the field. Ain Tsila is a world-class asset and the main focus of our business. We are collaborating with our partners on a number of opportunities to reduce overall development risk and enhance long term-field recovery and value, and these will be progressed in parallel with the EPC award process.”

Petroceltic holds a 38.25 percent interest in the Isarene PSC, in which the Ain Tsila field is located, with Sonatrach and Enel holding a 43.375 percent and 18.375 percent interest, respectively.



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