Irish oil company receives $103 million following a gas field sale

An Irish oil company, Petroceltic, has received $103 million from the sale of a gas field in southern Algeria. The Dublin based company sold an 18% stake in the Ain […]

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By Priyanka Shrestha

An Irish oil company, Petroceltic, has received $103 million from the sale of a gas field in southern Algeria.

The Dublin based company sold an 18% stake in the Ain Tsila gas field last April to Italian power company, ENEL. The company remains operator of the permit with a 57% stake and may receive further payments later this year.