Petroceltic in talks on new gas deal

Irish oil and gas exploration company Petroceltic has begun preliminary discussions to farm out a second 18 per cent chunk of its huge Isarene gas reserve in south-eastern Algeria. The deal will be

13th November, 2011

Irish oil and gas exploration company Petroceltic has begun preliminary discussions to farm out a second 18 per cent chunk of its huge Isarene gas reserve in south-eastern Algeria.

The deal will be "significantly larger" than the $183 million it will raise from selling an initial 18 per cent of the field to Italian electricity giant ENEL, according to Brian O'Cathain, chief executive of Petroceltic.

"That deal was done last August when we had only drilled three appraisal...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Newsround: What Thursday’s papers say