Petroceltic confirmed exploration wells in the Kurdistan Region of Iraq, Romania and Egypt all returned disappointing results.
The firm, which focuses on exploration in the Middle East, North Africa, Mediterranean and Black Sea regions, abandoned its South Dikirnis-1 well in Egypt after the open hole log analysis indicated the reservoir interval was water bearing.
Its Romanian Muridava-1 exploration well has now been plugged, abandoned and the rig will be demobilised from the location after it failed to return any commercial hydrocarbons.
The Shakrok-1 well in the Kurdistan Region of Iraq was drilled to a total depth of 3,538 meters. However, the venture also came up dry.
Petroceltic chief executive said: “The outcome of these exploration wells is disappointing but does provide a significant amount of information that will greatly help decision making around future activity on these licences. We now look forward to drilling the Shireen-1 well on the Dinarta concession as the next well in our 2014 drilling programme.”
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