Petroceltic has further gas finds in Algeria, expanding size of chief asset

PETROCELTIC, the Irish oil and gas exploration company with assets in southern Europe and northern Africa, has reported a further gas find in Algeria, which technically expands the size of its chief asset, the Isarene field.

Petroceltic has further gas finds in Algeria, expanding size of chief asset

Isarene is the Dublin-headquartered firm’s headline asset and is set to become commercial within the next five years.

Petroceltic recently agreed to sell an 18.4% stake in the licence to Italian utility giant, Enel for €123 million. It is scheduled for completion next month.

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