International oil and gas development and production company Petroceltic has confirmed its commitment to supporting the Algerian energy sector through the development of its world class Ain Tsila project in a letter to the Algerian government.
Chairman Angelo Moskov has written to energy minister Bouterfa to reinforce the company’s enthusiasm to progress the field’s development as soon as possible, stating Ain Tsila is Petroceltic’s top priority amongst its international portfolio of assets in Algeria, Egypt, Italy and Bulgaria.
The company is keen to agree next steps with the ministry and Sonatrach as soon as possible in order to progress the development for the benefit of the country’s energy sector and its people.
Petroceltic, supported by principle financial backer, Worldview Capital Management, has an industry-leading management team whose CEO Don Wolcott has developed fields in some of the world’s harshest environments.
The company wants to work closely with all the appropriate authorities to ensure the timely development of Ain Tsila, having seen the project experience significant delays.
It looks forward to engaging with all appropriate stakeholders as soon as possible to progress the commercialisation of what it believes is one of Algeria’s crown jewel hydrocarbon assets.
Date: May 2, 2017