Petroceltic wins contract in Algeria

An Irish-based energy firm has landed a major oil and gas contract in Algeria, it was reported today.

Dublin-based Petroceltic, was one of eight firms globally to sign a production sharing agreement for oil and gas fields in Algeria, according to BBC online.

Petroceltic is listed on the UK stock market. The contract was one of eight signed by Algerian state oil firm Sonatrach.

Algeria is an important gas supplier to Europe.