GSP Offshore to continue operations in Western Black Sea with GSP Prometeu

May 24, 2013

GSP Offshore is the drilling contractor for exploration drilling offshore Bulgaria, the campaign being carried out under a contract with Petroceltic International plc.

GSP Prometeu has completed the drilling operations on the Kamchia-1 exploration well offshore Bulgaria and the Client is currently analyzing the well data with a view to updating the regional geologic model and deciding whether to enter into the final two year extension of the exploration license later this year. GSP Prometeu is scheduled to relocate for the completion of the suspended Kaliakra discovery well for gas production. This well will be used to supplement production from the existing single Kaliakra field development well and is expected to be brought on stream in August when the subsea tieback operations have been completed.

GSP Offshore will continue operating for the same Client with the same MODU, GSP Prometeu. The rig will move to Romania to drill two exploration wells on the  Est Cobalcescu (Block 28) and Muridava (Block 27) offshore concessions. The first well will be Cobalcescu South-1 and the second well is Muridava-1. The two wells are expected to reach depths of approximately 3,100m Cobalcescu South-1, respectively 3,300m Muridava-1. The drilling campaign on the Romanian continental shelf is expected to take approximately two months.