Irish exploration firm Petroceltic says it has abandoned one of its wells off the Romanian coast after failing to uncover any oil.
THe Cobalcescu South 1 well, on the south-west part of the Est Cobalcescu find, had been drilled to 3,298m.
However, the GSP Prometeu jack-up rig failed to find commercial levels of hydrocarbons on the site, despite good quality sandstone, and the well has now been plugged.
The rig will now move onto the Muridava concession to drill a target in the hunt for gas in the field.
“Although commercial quantities of hydrocarbons have not been encountered at Cobalcescu South-1, the well has confirmed the presence of good quality sandstone reservoirs in the Miocene interval and the presence of a working petroleum system in the area,” said Petroceltic chief executive Brian O’Cathain.
“We now look forward to drilling Muridava-1, where some other regionally proven play types independent of the Miocene objectives at Cobalcescu South will be evaluated”.