A Dublin-based exploration firm has started drilling for gas off the coast of Romania and for oil in Iraq’s Kurdistan region.
Petroceltic International is drilling the Cobalcescu South well off the coast of Romania, which is expected to last two months and on the Shakrok-1 well in Iraq as part of a multi-well drilling campaign.
The latter project – with a total depth of 3,000m – is estimated to take around 150 days to drill.
Brian O’Cathain, Petroceltic’s Chief Executive said: “The Shakrok-1 well in Kurdistan is the first well in a multi-well campaign planned for this prolific petroleum province where a number of large exploration targets have been identified. Shakrok has multiple Jurassic and Triassic oil reservoir targets each with substantial resource potential.
“In Romania, the 3D seismic survey acquired in 2012 has confirmed the presence of a significant gas prospect inventory in a number of different hydrocarbon plays.”
Earlier this year the Romanian Government approved a decision to sell a 10% stake in its state-owned nuclear power plant operator.