TransAtlantic Petroleum to Spud Deventci-R2 Well in Oct
Monday, 07 October 2013
International oil and natural gas company TransAtlantic Petroleum said it expects to spud in October the Deventci-R2 well in Bulgaria, where it holds 50% working interest.
The Deventci-R2 will be a directional exploration well targeting the Dolni Lukovit zone at a depth of approximately 14,500 feet, TransAtlantic said in a statement on its website.
In August TransAtlantic Petroleum entered into a farmout agreement with oil and gas investment company Koynare Development Ltd. (KDL) for the assignment of the 50% interest in Bulgaria's Koynare Concession Area. The company holds interests in developed and undeveloped properties in Turkey and Bulgaria.
Bulgarian news portal 3e-news reported last week that state-owned gas monopoly Bulgargaz has entered into a natural gas supply agreement with TransAtlantic Petroleum. Gas deliveries from the Koynare and Deventci (Deventsi) areas, near the northern Bulgarian town of Cherven Bryag, are expected to start by the beginning of 2015, the news portal quoted Bulgargaz executive director Dimitar Gogov as saying.