Brian O'Cathain, Chief Executive Officer of Irish oil and gas company Petroceltic International, has said that the company would consider buying assets in Libya, according to a report from Bloomberg.
Petroceltic, which already has assets in Algeria, recently agreed to buy Melrose Resources for £165 million ($259 million) to expand in North Africa and the Mediterranean.
“This gives us a better platform to grow,” said O’Cathain, who added that the enlarged company probably won’t sell off assets to focus on its biggest fields.
(Source: Bloomberg)
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