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Petroceltic seeks partner to help develop Italy's Elsa oilfield

Petroceltic, one of the biggest companies on the Alternative Investment market, is looking to for a partner for an Italian oilfield.

The Dublin-based company is looking to start production at the Elsa field off the coast of Apulia, the heel of the Italian boot, in the third quarter of next year. Petroceltic, which has a market capitalisation of £240m, needs a third party to help finance a deal.