Petroceltic Updates on Italy

Petroceltic, the Dublin-based exploration company focused on the Mediterranean and the Black Sea, has announced an operational update.

Petroceltic's wholly owned subsidiary, Petroceltic Italia Srl, has been awarded the exploration permit "B.R272.EL" in the central Adriatic, offshore Italy. The block covers 474 sq km and lies about 15km from the Elsa discovery and the producing Rospo Mare Field. It contains the high-potential "Turchese" prospect located along the North Eastern extension of the Elsa trend.

In a statement, the company said seismic operations would start with a 3D acquisition programme.

Italy is the fifth largest producer of gas in western Europe.