Petroceltic gets approval for Italian exploration

Petroceltic International has announced that its wholly owned subsidiary, Petroceltic Elsa Srl, has been notified that approval has been granted for the Civitaquana exploration permit onshore Italy.

The permit is located in the Marche-Abruzzi Basin of central Italy, west of the onshore Miglianico oil and gas discovery and close to Petroceltic’s B.R268.RG Offshore Permit, in the Adriatic Sea.

The block contains several potential oil and gas targets, including a shallow Pliocene gas play and possible extensions of the intra-Cretaceous Maiolica formation that yielded light oil and gas in the nearby Miglianico discovery well, drilled by ENI in 2001.