Petroceltic seeks Algerian extension

Petroceltic, Irish exploration firm, announced that it will have more operating projects in Algeria, Italy and Tunisia in 2010.

The company will continue drilling in Q2 2010 with its appraisal wells in Algeria’s Isarene Permit, which has now completed a second exploration phase following the world’s 10th largest discovery of oil and gas in Algeria last year.

That came after the firm confirmed applying for a two year extension to their permits to appraise the Ain Tsila and Isarene North East finds jointly operated with Algerian national oil company, Sonatrach.

Ain Tsila holds between 2.6 trillion and 10.3 trillion cubic feet of gas in place. Isarene North East holds between 32 billion cubic feet (bcf) and 80 bcf of gas in place and another 17 million barrels to 139 million barrels of oil in place.

In Italy, the company has assumed operatorship of the B.R268.RG Permit with a drilling program on Elsa-2 to commence in Q3 2010. In Tunisia, there are two well drilling programs will commence in June 2010 at the Ksar Hadada project.


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