16th Sep 2013 10:50
LONDON (Alliance News) - Petroceltic International PLC Monday said it had successfully connected a new production well on the Kaliakra gas field, offshore Bulgaria.
It said the well was completed with a subsea wellhead and connected to the existing Kaliakra pipeline for export via the Galata platform and had been flow tested at rates in excess of 12 million cubic feet a day.
Once flow from three wells now connected to the pipeline is rebalanced, the combined flow rate is expected to stabilise around 30 million cubic feet a day.
Petroceltic shares were up 1.1% at 152.613 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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