DUBLIN, Ireland – Petroceltic says its current focus in the Bulgarian sector of the Black Sea is to optimize gas production from the Galata field and satellite tie-ins, and to complete connection of the Kavarna East discovery, probably early next year.
Kavarna East, discovered in 2010, has estimated reserves of 9.6 bcf.
It will be developed via a single subsea well tied back to a manifold near the Kavarna field. From there the gas will flow to the Galata platform using the existing Kavarna flowline.
All long lead-time equipment procurement has been completed. Timing of the tie-in depends on rig and diving support vessel availability.
Production from the Kaliakra-1 well continues to decline slowly. Petroceltic is considering drilling a further well (Kaliakra-3) to drain the field fully.
Kavarna-1, which is also declining, will likely be shut-in once Kavarna East comes onstream.
Offshore the Abruzzo region of eastern Italy, the company’s Elsa discovery could hold 95 MMbbl of oil, but this needs to be established via appraisal drilling.
In March, Petroceltic received technical approval for its environmental impact assessment for the planned Elsa-2 well, and it expects a final decree in late 2015/early 2016, paving the way for the well to be drilled in late 2016.
The company will consider farm-outs or similar partnering initiatives for the well.