PROJECT

Projects

Summary of Investment Information

Project Number

33324

Company Name

PETROCELTIC INTERNATIONAL PUBLIC LIMITED COMPANY

Date SPI Disclosed

Feb 18, 2013

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Mar 21, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Sep 30, 2022

Department

Gbl Infrastructure & Natural Resources

Industry

Metals and Mining

Previous Events

Approved : Apr 8, 2013
Signed : Apr 12, 2013
Invested : May 31, 2013

Sector

Oil and Gas Production (Includes Development)

Project Description

Petroceltic International plc is a publicly listed upstream oil and gas company incorporated in Dublin, Ireland. Petroceltic recently merged with Melrose Resources plc, a previous client of IFC, and focuses on oil and gas exploration and development in the EMENA region. Petroceltic holds a balanced portfolio of exploration, development and production assets, primarily located in Egypt, Bulgaria, and Algeria. The proposed investment by IFC will help fund Petroceltic’s development and exploration program in Egypt, Bulgaria and Algeria.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation