Providence Resources and its partners on the Barryroe field offshore Ireland have been given a two-year license extension as the firm continues its farm-out efforts.
Barryroe is in Standard Exploration License (SEL) and is operated by Providence subsidiary Exola DAC (80%), with partner Lansdowne Celtic Sea (20%). It lies in 100m water depth in the North Celtic Sea Basin and is about 50km off the south coast of Ireland.
The first phase of the license has been extended to July 2019 and the overall term to July 2021, subject to the Barryroe Partners carrying out a work program that includes the evaluation of newly reprocessed 3D seismic data together with an assessment of the Jurassic and Triassic exploration potential of the license area.
Speaking today, Tony O’Reilly, CEO of Providence said: “We are very pleased to be granted these extensions to the Barryroe license, which provides additional security of
tenure whilst we continue the farm-out process. The Barryroe partners are in dialogue with a number of parties regarding advancing the appraisal of Barryroe through to first oil.
The extension work program includes evaluating the deeper exploration potential of the license, which offers exciting upside, over and above the substantial resources already identified in Barryroe.”