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Wednesday, September 16, 2015
Petroceltic International should drop the drill bit offshore Egypt in 2016 according to reports from the Irish media. The company has two licenses in the Mediterranean, the North Port Fouad and North Thekah licenses; it is expected that the company will drill on the North Thekah.
Petroceltic won access to the North Port Fouad and North Thekah licenses in 2013 and 2014 respectively; both are located near the massive Zohr discovery made by ENI recently.
The final decision of where to drill will be made following the receipt of results from the company’s 3D seismic survey on the North Thekah. Petroceltic is also expected to launch a 3D survey on the North Port Fouad license.
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