Dublin-based oil and gas firm Petroceltic is in talks to sell a further stake in its Algerian gas field, the company’s chief executive Brian Ó Cathain said yesterday.
“We’ve been in discussions with a number of major players who are currently active in Algeria with a view to bringing in another partner because it’s such a large development,” Mr OCathain said.
The company said it was looking to sell an 18.375 per cent stake in the Ain Tsila gas field in southeast Algeria, having sold Italian utility Enel a similar interest in April in a deal worth up to $183 million.
Petroceltic currently has a 56.625 per cent interest in the field.
READ MORE
The news follows this morning’s announcement of positive results from a flow test carried out on the field.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)