Providence gets green light for Barryroe site survey
Oil and gas exploration firm Providence has secured the approval from the Irish government to undertake a seabed and shallow geophysical survey and an environmental baseline and habitat assessment survey, at the K-Site location, Barryroe in the North Celtic Sea.
The offshore survey, when completed later this year, will be the third in a series of surveys.
Providence said it requires the survey in order to apply for any potential further works on the K site location of the Barryroe field.
Further regulatory approvals are required before any commencement of drilling could take place on the Barryroe Field.
Alan Linn CEO of Providence Resources, said: “With this approval now in place we can begin the detailed work required to complete the environmental and regulatory approvals for the appraisal and development of the Barryroe oil and gas field, working closely with Irish companies to progress the project.
“We will also be engaging regularly with the coastal communities on the South coast, keeping them fully involved with project progress.”
SEL 1/11 is located in the North Celtic Sea Basin, some 50 kilometres off the south coast of Ireland in approximately 100 metres water depth. The licence is adjacent to the giant Petronas-operated Kinsale Head Gas Field.
In December last year, Providence and its partner Lansdowne Oil & Gas agreed to farm out a 50 per cent working interest in SEL 1/11 offshore license containing the Barryroe field to Norwegian firm SpotOn.
Following the transaction, SpotOn will become the operator of the block and will, with its consortium of leading oilfield services providers, fund a 100 per cent of the early development program costs and full-field development.
SpotOn will own a 50 per cent stake, Providence – via its subsidiary Exola – will retain 40 per cent and Lansdowne will retain a 10 per cent stake.