Petroceltic signs new drilling-rig contract

Oil and gas exploration and production company Petroceltic has signed a contract for drilling rig services with Dalma Energy, a Dubai based drilling contractor.

The relevant rig is currently stacked in Hassi Messaoud, Algeria, and will begin mobilisation immediately to the Isarene permit, for a drilling programme of four appraisal wells.

Petroceltic boss Brian O’Cathain said: "Securing this rig is a significant step towards re-starting drilling operations on the Isarene permit. We expect to drill a minimum of four appraisal wells including at least one horizontal well."