Petroceltic to Sell Additional 18.375% interest in Algeria Gas Field

Petroceltic International Plc is looking to sell a further 18.375% stake in Ain Tsila gas field in Isarene Production Sharing Contract (Blocks 228 and 229a), Algeria. Earlier in April 2011, Petroceltic farmed out 18.375% interest in the Isarene Production Sharing Contract (Blocks 228 and 229a) to Enel Trade. Continue reading here..

Petroceltic sells 18.375% interest in Isarene block to Enel for $81M

Petroceltic International Plc has farmed out 18.375% interest in the Isarene Production Sharing Contract (Blocks 228 and 229a), onshore Algeria, to Enel Trade. Post transaction ownership structure in the block: Petroceltic (56.625%, operator), Enel (18.375%) and Sonatrach (25%).

This news should brood well for companies such as Gulf Keystone Petroleum Ltd who has also offered to exit from its operations in Algeria.