Petroceltic announces award of rig contract for the Ain Tsila project to SINOPEC

Published Apr 28, 2015
Petroceltic International plc

Petroceltic International is pleased to announce the award of a contract for the provision of a drilling rig between Groupement Isarene and SINOPEC International Petroleum Service Corporation for the Ain Tsila gas and condensate field.

Groupement Isarene, the joint operating organisation responsible for executing the Ain Tsila field development plan established by Sonatrach, Petroceltic and Enel, successfully completed the tendering process resulting in the award and signature of the contract to SINOPEC. The 1500 horse power rig, which is now built and ready to ship, will drill up to 24 new development wells. The first 12 drilling locations, all in the northern region of the field, have already been selected and approved. The award of the rig contract represents the achievement of a further milestone for the Ain Tsila project and will enable drilling to commence on schedule in 2015.

The Front End Engineering and Design of the project which was awarded in September 2014 to Chicago Bridge and Iron is also progressing well. The Groupement has launched the process to identify suitable companies to perform the Engineering, Procurement and Construction contract via publication of an invitation to pre-qualify in the Algerian Bulletin of Public Tenders in the Energy and Mine Sector. The Groupement is in receipt of a number of submissions, and it is anticipated that a shortlist of potential bidders who will be formally invited to tender for the EPC contract will be established shortly.

Tags: Petroceltic International plc, Sinopec


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