Petroceltic to sell stake in Algeria gas field

11 October 2011

Irish exploration company wants to sell 18.375 stake in Ain Tsila

Ireland’s Petroceltic wants to sell an 18.375 per cent stake in the Algerian gas field Ain Tsila.

The exploration company originally owned 75 per cent of the field in south-east Algeria, but has already sold a similar stake to Italy’s Enel in April leaving it with 56.625 per cent. Algeria’s Sonatrach owns 25 per cent.

The field produces 38.6 million cubic feet a day of gas and 1,100 barrels a day of condensate.

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