Oil and gas exploration firm Petroceltic has secured a two-year extension to carry out appraisal work on a permit in Algeria.

The extension covers four discovery areas on the Isarene block and commences on April 26th.

The company and its partner, Sonatrach, will retain 4,032sq km, or 54 per cent, of the area of the Isarene permit held during the second exploration period, and relinquish title to the other areas of the permit.