Petroceltic scoops nine Italian exploration permits

Petroceltic International PLC has received from the Italian government nine exploration permits in the central Adriatic off Italy.

Uchenna Izundu
International Editor

LONDON, July 7 -- Petroceltic International PLC has received from the Italian government nine exploration permits in the central Adriatic off Italy.

The awards and Petroceltic's existing interest in the BR 268RG offshore permit means it can explore a near-contiguous proven hydrocarbon play fairway of more than 2,660 sq km along the Apulian Carbonate platform margin off Italy.

It will focus on gathering seismic data to select prospects for drilling. The permits lie in 30-150 m of water and adjoin existing oil and gas fields that have demonstrated three working hydrocarbon plays in this region: the Cretaceous Miglianico/Elsa basin floor fan, and the Cretaceous-to Miocene Rospo Mare/Ombrina Mare platform carbonate oil plays.

The permits will be finalized once Petroceltic submits an environmental impact study, and it is approved by the Italian authorities.

Petroceltic has a 100% interest in the nine permit awards, which are d492, d493, d494, d495, d496, d407, d498, d499, and d500.

Contact Uchenna Izundu at uchennai@pennwell.com.

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