Petroceltic International

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Petroceltic International Limited
Private company limited by shares
Industry Energy
Founded 2003
Headquarters London, England
Products Oil and Gas
Website www.petroceltic.com

Petroceltic International is a wholly owned subsidiary of Petroceltic Holdings Limited, a privately owned, UK headquartered, oil and gas company. The Group has operations in North Africa and the Black Sea.

Company Development[edit]

Petroceltic became an oil and gas company in November 2003. In 2004, Petroceltic acquired a licence called 'Isarene' in the Illizi basin of Algeria.[1] In 2006, the company started the first of its exploration wells in Algeria and over the next few years explored the Isarene field with 3D seismic and 13 wells which ultimately led to the discovery and appraisal of the Ain Tsila gas condensate field and the submission of the Field Development Plan. The Ain Tsila field is currently under development. Partners in the field include Sonatrach (the Algerian state energy company) and Enel, the Italian utility.[2]

Petroceltic Holdings is headquartered in London with offices in Algiers, Cairo and Varna.

The Company's shares were delisted on the AIM of the London stock exchange and the ESM of the Irish Stock exchange following a process of examinership, approved by the High Court of Ireland. The company is now a private company owned by Investment Funds under the management of Worldview Capital Management Limited.

References[edit]

  1. ^ [1] 'Petroceltic Regulatory Announcement 29 July 2004 – PETROCELTIC WINS MAJOR GAS BLOCKS IN ALGERIA BID ROUND'
  2. ^ [2]'Petroceltic Website, Operations – Algeria'