Petroceltic hires ex-Tullow Oil executive

Oil and gas exploration firm Petroceltic International has appointed former Tullow Oil executive director Tom Hickey as its corporate…

Oil and gas exploration firm Petroceltic International has appointed former Tullow Oil executive director Tom Hickey as its corporate development officer.

Mr Hickey (42) worked with Tullow Oil from 2000-2008, a time when the company recorded a series of significant acquisitions and exploration successes.

Petroceltic International chairman said Mr Hickey would bring a wide range of skills and experience to the firm.

"This appointment underlines our ambition and intention to continue to grow Petroceltic's exploration and production business over the coming years and significantly increases our capacity for deal-making and execution," he said.

Petroceltic posted a loss of $5 million for the first six months of the year, up from €2 million in the same period in 2009.

The company, which is listed on the AIM market in London and Dublin’s ESM market, had cash of $108 million at period end.