Petroceltic Intl Abandons Kamchia-1 Well

Petroceltic Intl Abandons Kamchia-1 Well

 Irish oil and gas exploration and production company Petroceltic International plugged and abandoned the Kamchia-1 exploration well in Bulgaria, it said.

“We are disappointed with the outcome of the Kamchia-1 well and plan to complete the post drill analysis prior to formulating forward plans for the Galata exploration concession,” Petroceltic’s chief executive Brian O’Cathain said in a press release.

“On a more positive note, the rig is moving to complete a development well on the Kaliakra gas discovery. It will then drill the company’s first exploration wells offshore Romania this summer to test two high potential, proven exploration plays in Est Cobalcescu and Muridava,” he added.

The Galata exploration block is located in the western Black Sea.

 

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