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3/8/2010 - PETROCELTIC TO APPRAISE 1992 DISCOVERY ELSA OFFSHORE ITALY |
| Petroceltic International plans to appraise the Elsa discovery well, located offshore Italy, by drilling and testing an Elsa-2 well adjacent to the existing discovery well, Elsa-1, in which a 65-m oil column was logged in 1992.
An environmental impact assessment for the Elsa-2 well was submitted to the Italian Ministry for the Environment in August 2009 and is currently expected to be approved in Q2 2010. Drilling operations are planned to commence in September 2010, subject to receiving all necessary regulatory approvals.
Situated in 30m of water depth, some 7 km offshore in the Central Adriatic region of Italy, the well will be drilled by a zero discharge jackup rig using water-based fluids. Four suitable rigs with acceptable contract windows have been identified and Petroceltic has commenced discussions with these rig operators with a view to contracting a rig in the near future. |
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