Parties to the Isarene production-sharing contract have agreed a formal declaration of commerciality for Ain Tsila gas-condensate in the Illizi basin in eastern Algeria.
Upon approval by Algerian authorities, operator Petroceltic International PLC and partners expect to be granted a 30-year exploitation permit for the field.
The companies estimate Ain Tsila to contain a gross resource of 2.1 tcf of sales gas, 67 million bbl of condensate, and 108 million bbl of liquefied petroleum gas. Development would begin in 2014 and gas production start in the third quarter of 2017.
The initial 18 vertical wells will produce a combined 355 MMscfd of wet gas during a 14-year plateau to a new gas processing plant. A further 106 development wells are estimated to be needed to maintain the plateau.
Petroceltic has a 56.625% working interest in the development. Enel has 18.375% and Sonatrach 25%.
The field was formally declared commercial on completion of an agreement for Sonatrach to market the gas using a formula linked to Brent oil pricing.
