Petroceltic International abandons Mesaha-1 well in Egypt

Oil and gas company Petroceltic International has plugged and abandoned its Mesaha-1 frontier exploration well in southern Egypt after failing to encounter hydrocarbons.

Oil and gas company Petroceltic International has plugged and abandoned its Mesaha-1 frontier exploration well in southern Egypt after failing to encounter hydrocarbons.

The well was drilled to a total depth of 6,985 feet before determining there were no hydrocarbon indicators.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.