Petroceltic exits Romania, selling assets to GVC Investment
Published 16/06/2015 | 07:30
Oil producer Petroceltic International said it sold its Romanian unit to GVC Investment as it exits high-risk exploration ventures.
Petroceltic, which withdrew from Iraqi Kurdistan in March, said that its unit bought out the stakes of its partners Sterling Resources Ltd and Beach Energy Ltd in the Romanian fields before the sale to GVC.
Financial details of the transactions were not disclosed.