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Dip in oil production

PRODUCTION levels at oil and gas exploration company Petroceltic will be lower than most analysts anticipated, the company has said. In an operational update the drilling company said its production expectations for 2014 will be in the region of 20,000 to 22,000 barrels of oil equivalent per day lower than expected, due to scheduled maintenance in Bulgaria and reduced drilling in Egypt. These were caused by delays in debt recovery which affected budgets, the company stated.

PRODUCTION levels at oil and gas exploration company Petroceltic will be lower than most analysts anticipated, the company has said. In an operational update the drilling company said its production expectations for 2014 will be in the region of 20,000 to 22,000 barrels of oil equivalent per day lower than expected, due to scheduled maintenance in Bulgaria and reduced drilling in Egypt. These were caused by delays in debt recovery which affected budgets, the company stated.


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