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Algerian rig fixed for Petroceltic
Published 26.07.2010 10:10:52 by John Bradbury
Algerian explorer Petroceltic is set to start a four-well drilling programme after contracting a land rig for a series of wells which will lead into a field development plan.Petroceltic says it has secured a 12,000 horsepower land rig from Dubai-based rig contractor Dalma Energy – which is currently stacked in Hassi Messaoud in Algeria - to begin the drilling programme in its Isarene permit area onshore Algeria which is operated by Petroceltic with 75% equity.
Four new wells are to be drilled targeting gas discoveries made by the company after a five-well programme carried out last year and earlier this year in the Isarene area.
“Securing this rig is a significant step towards re-starting drilling operations on the Isarene permit,” said Brian O'Cathain, Petroceltic's chief executive.
He continued: “We expect to drill a minimum of four appraisal wells including at least one horizontal well. Drilling operations are scheduled to start in October 2010, as originally planned, with a view to the submission of a development plan (Final Discovery Report) to the Algerian Authorities at the end of this appraisal campaign.”
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