Petroceltic has completed the sale of a number of exploration licences in Egypt.
The company earlier reached an agreement to sell its interests in the North Thekah, North Port Fouad and South Idku exploration licenses to Edison for a cash consideration of $9.5million.
A spokesman said following government approvals and the waiver of pre-emption rights held by the Egyptian Natural Gas Holding company, the transaction has now formally been completed.
Brian O’Cathain, chief executive of Petroceltic, said: “This sale continues our strategic initiative, announced in early 2015, to focus the Company on the Ain Tsila development in Algeria.”
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