Oil and gas exploration firm Petroceltic International said today it has begun appraisal drilling operations on the Isarene permit in Algeria.
Drilling at the AT-4 well on the Ain Tsila discovery began yesterday. An overall programme of four wells is planned for the Isarene permit. The drilling is part of a two-year appraisal extension programme awarded to Petroceltic following the large Ain Tsila gas condensate discovery in 2009.
Petroceltic has a 75 per cent equity interest in the permit, with Sonatrach holding the remaining 25 per cent.
Petroceltic chief executive Brian O’Cathain said the Ain Tsila field is a “world class” discovery.
“The field covers an area of over 1,000 square km with current internal gas initially in place estimates ranging from 6 to up to 14 trillion cubic feet,” he said.
“The two-year appraisal extension enables us to properly assess the structure, to establish recoverable gas reserves and to optimise our development programme investment.”
The company said it would submit a development plan to the Algerian authorities next year.