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Petroceltic to drive Algeria drilling

Tuesday, February 05 11:50:34

Petroceltic International the Irish oil and gas exploration and production company focused on North Africa, the Middle East and the Mediterranean announced the appointment of Geoff Stevenson as Project Director, Ain Tsila Development.

As Project Director reporting to Geoff Probert, Managing Director, North Africa, Geoff Stevenson will be accountable for all aspects of the delivery of the Ain Tsila project in the Illizi basin of Algeria, the role will include specific responsibility for the planning, scheduling, budgeting, and execution of development activities, including facilities engineering, construction, subsurface and well engineering.

Geoff Stevenson has over 25 years international project management experience on major oil and gas developments in Europe, North Africa, North America, Middle East and Far East, much of that experience gained working alongside National Oil Companies.

He joins Petroceltic from Hess Corporation, where he was recently delivery manager (on secondment to BP) for the topsides of the USD3 billion Valhall Redevelopment Project in Norway. Prior to this role he was project director for BHP Billiton's US$500 million ROD and US$1billion Ohanet developments, both in Algeria. The Ohanet project is particularly relevant to Petroceltic's Ain Tsila development as both are located in the Illizi basin with similar geological, logistical, engineering and development characteristics and challenges.

The Ain Tsila wet gas project entered its 30 year development period in December 2012. The approved plan of development will involve the production of gross reserves of 2.1 trillion cubic feet of sales gas, 67 million barrels of condensate and 108 million barrels of liquefied petroleum gas. Development planning will commence in 2013 and first gas is scheduled for the late 2017, at an annual average wet gas plateau rate of 355 million standard cubic feet/day (10.05 million standard cubic metres/day). The plateau length is 14 years and a total of 124 development wells are estimated to be required during the period to maintain this production plateau.

Petroceltic holds a 56.625pc working interest in this field, with Enel holding 18.375pc and Sonatrach 25pc.

Brian O'Cathain, Chief Executive of Petroceltic commented: "Geoff Stevenson is an outstanding appointment for Petroceltic as we move into the development phase of the Ain Tsila project. His proven track record of delivering large projects in Algeria will enable him to make an immediate contribution while his broad international experience will be an important support to our ongoing growth and diversification ambitions."