Petroceltic has signed a contract with the Great Wall Drilling Company to provide the land drilling rig for the company's Sidi Toui 3 Well in the Ksar Hadada permit area in southern Tunisia. The contract is for one well with a second well option.
Drilling operations and site preparation have started for Sidi Toui under the supervision of Norwell, a major Scottish based drilling project management and well control company.
The Great Wall Rig is currently working in Tunisia for the Austrian oil and gas company OMV. This work is expected to finish over the next few weeks.
Petroceltic has a 100% working interest in the Ksar Hadada area in a deal with Tunisian state oil company, ETAP. One of the site's prospects, Sidi Toui, has the potential to host over 400 million barrels of recoverable oil. Another similar prospect, Oryx, has also been identified in the southern part of the site.
Great Wall Drilling Company, an affiliate of the Chinese National Petroleum Company, owns over 100 rigs and provides land drilling services in over 16 countries worldwide.
