LONDON, Oct 10 (Reuters) - Irish oil and gas firm Petroceltic is in talks
about selling a further stake in its Algerian gas field to oil majors, said the company's chief executive Brian O'Cathain in an interview.
'We've been in discussions with a number of major players who are currently active in Algeria with a view to bring in another partner because it's such a large development,' O'Cathain told Reuters on Monday.
The company said it is looking to sell an 18.375 percent stake in the Ain Tsila gas field in south-east Algeria, having sold Italian utility Enel an 18.375 percent interest in April.
'There's lots of interest. They're all majors, they're all very large companies,' he said, adding that any announcement on a deal was not likely until the end of the first quarter next year.
Algerian state energy company Sonatrach holds a 25 percent stake in the field alongside Petroceltic, which has 56.625 percent, and has a pre-emption right over any deal, said O'Cathain.
The company announced positive results from a flow test carried out on the field earlier on Monday.
(Reporting by Sarah Young; editing by Rhys Jones) Keywords: PETROCELTIC/
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