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Consortium to Receive Permit to Develop Isarene Block in Algeria
16 August 2012 , 11:56Neftegaz.RU2216
Members of the Isarene production sharing contract will approach the Algerian authorities to request the permit to develop the Ain Tsila natural gas field, Petroceltic said.
The request involves a 30-year exploitation permit for the field, located in the Illizi Basin. Formal declaration of commerciality and supporting documentation, and the field development plan must be submitted in order to receive the permit.
Ain Tsila was declared commercial on completion of an agreement with Sonatrach to market all of its produced gas using a formula linked to Brent oil pricing. The production sharing partners estimate that the field contains gross resources of 2.1 Tcf of sales gas, 67 million bbl of condensate, and 108 million bbl of liquefied petroleum gas.
The development is expected to start in 2014 and first gas is expected in the third quarter 2017. The project will include the development of 18 vertical wells and a new gas processing unit with an annual average wet gas plateau rate of 355 million ft3/D. The plateau length is 14 years and 106 wells will be developed through this period to maintain the production plateau.
Petroceltic holds a 56.625% working interest in the development, with Enel holding 18.375%, and Sonatrach 25%.
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