Thursday 21 September 2017

Petroceltic boosts production in Bulgaria

Sarah McCabe

Sarah McCabe

PETROCELTIC has boosted production at its Kiliakra gas well in Bulgaria.

The oil and gas mining company said it has completed a “tieback” on the production well at the Kiliakra gas field in offshore Bulgaria. This means it has connected the well to its existing production facility at the site, turing it into a profitable asset. 

It is now connected to three fields, the others known as Galata and Kavarna. Once levels settle, the three should produce a combined 30,000 cubic feet per day of gas. 

Petroceltic holds a 100pc working interest in the fields.

"We are very pleased with the performance of the new Kaliakra development well, which will supplement the production from our two other offshore gas fields. Bulgaria generates a significant proportion of the Company's revenues and we remain committed to investment in the country. Elsewhere in the region we look forward to results from the multi-well exploration drilling campaign which has recently commenced in Romania" said chief executive Brian O’Cathain.

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