Petroceltic Algerian well up and running

Drilling at the Petroceltic oil well in Algeria this week has revealed the presence of hydrocarbons used in the production of gas and oil.

The Dublin-based energy firm, which focuses on oil and gas exploration and production in North Africa, the Mediterranean and offshore Ireland, landed the major contract in Algeria two years ago.

Algeria is an important gas supplier to Europe and Petroceltic was one of eight firms globally to sign a production sharing agreement for oil and gas fields in the region.

Drilling operations at the company's Inisbeg oil well began last week.