Stevenson appointed Project Manager for Petroceltic's Ain Tsila Development

AIM-listed upstream oil and gas exploration and production company Petroceltic International has appouinted Geoff Stevenson as Project Manager for its Ain Tsila Development.

AIM-listed upstream oil and gas exploration and production company Petroceltic International has appouinted Geoff Stevenson as Project Manager for its Ain Tsila Development.

The company, which is focused on North America, the Middle East and the Mediterranean, said that Stevenson would report to Geoff Probert, the Managing Director fo the group's North Africa businesses.

Within the role of Project Manager, Stevenson will be accountable for all aspects of the delivery of the Ain Tsila project. The role will include specific responsibility for the planning, scheduling, budgeting, and execution of development activities, including facilities engineering, construction, subsurface and well engineering.

The group reported that he has more than 25 years of international project management experience on oil and gas developments in Europe, North Africa, North America, the Middle East and Far East, much of that experience gained working alongside national oil companies.

The Ain Tsila wet gas project entered its 30-year development period in December 2012. The approved plan of development will involve the production of gross reserves of 2.1tn cubic feet of sales gas, 67m barrels of condensate and 108m barrels of liquefied petroleum gas.

Development planning is scheduled to commence in 2013 and first gas is scheduled for late 2017, at an annual average wet gas plateau rate of 355m standard cubic feet/day.

Petroceltic holds a 56.625% working interest in this field, with Enel holding 18.375% and Sonatrach 25%.

Brian O'Cathain, Chief Executive of Petroceltic, commented: "Geoff Stevenson is an outstanding appointment for Petroceltic as we move into the development phase of the Ain Tsila project. His proven track record of delivering large projects in Algeria will enable him to make an immediate contribution while his broad international experience will be an important support to our ongoing growth and diversification ambitions."

Petroceltic's share price was unchanged at 7.26p at 09:48 on Tuesday.

MF

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