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Petroceltic is an upstream oil and gas exploration and production company with headquarters in Dublin, Ireland and with interests in Algeria, Kurdistan Region of Iraq, Italy and Ireland.
Petroceltic International's AT-9 gas well tests at 67.6 mln cubic feet per day
Petroceltic International (LON:PCI) this morning revealed that the AT-9 well has been tested at a maximum rate of 67.6 million cubic feet per day.
This rate is prior to fracture stimulation and is constrained by surface facilities, it said.
"It is particularly pleasing to close this final well test from the Ain Tsila field appraisal programme with this excellent result, which we understand to be the among the highest gas flow rates ever achieved from an 'unfracced' Ordovician well in Algeria,” said chief executive Brian O'Cathain.
“The relatively high flowing well head pressure indicates that the well could potentially deliver at higher rates in a production setting and underlines our confidence in achieving our planned development plateau rates of 400 million cubic feet per day."
Last week Petroceltic reported excellent flow test results from the well on the Ain Tsila gas field in Algeria.
The well produced gas at a combined rate of 52.8 million cubic feet per day (mmscf/d) during the test, with 43.9 mmcf/d coming from the Upper Zone and 8.9 mmscf/d from the Lower Zone. The well also produced over 1,200 barrels of condensate a day.
The AT-9 well has now been suspended as a future production well. It will be fracture stimulated at a later date, during the development phase.
The Petroceltic chief also explained last week that the results strongly supportthe commercialisation of the Ain Tsila field and the current field development plan, which will be submitted to the Algerian competent authorities in January.
Petroceltic has a 56.625 per cent stake in the project, while it partners Sonatrach and ENEL own 25 per cent and 18.375 per cent respectively.
ENEL’s interest is subject to final ratification by the Algerian authorities, following a farm-out deal between Petroceltic and ENEL. Once complete, Petroceltic will be due around US$100 million from the farm-out.
