The Cabinet has approved to settle the contractual disputes between the Egyptian General Petroleum Company (EGPC) and Petroceltic.

The Cabinet has allocated land to the Ministry of Petroleum and Mineral Resources to construct a natural gas compressor (NGC) plant in Beni Suef.

Petrofac has been awarded a $1 billion contract from Algeria’s Sonatrach, Petroceltic, and Enel’s Groupment Isarene for the Ain Tsila development project.

The company plans to file an arbitration case as EGPC breached obligations in several gas sales agreements and was not able to pay its debts in time.

Petroceltic International plc, the Irish oil and gas exploration, development and production company, has completed the sale of the North Thekah, North Port Fouad, and South Idku deepwater exploration licenses in Egypt to its joint venture partner, the Italian company, Edison International S.p.A, for a total of $9.5m in a cash deal.

Irish oil exploration company, Petroceltic, a firm with holdings in Algeria and Egypt, was given an extension to January 29th to repay its debts.

Dublin-based explorer Petroceltic has started drilling of the first probe in a multi-well exploration campaign in Iraqi Kurdistan.

Petroceltic International plc, the upstream oil and gas exploration and production company focused on North Africa, the Mediterranean and Black Sea regions, provides an update on its Egyptian exploration and development activities.

Petroceltic is eyeing oil and gas deals in Egypt and Tunisia to take advantage of a funding gap brought about by unrest in the North African region, said its chief executive.