Providence secures rig slot for drilling

OIL and Gas exploration company Providence has secured a rig slot from Island for next year’s drilling programme.

This will allow Providence to progress its drilling plans offshore Ireland for 2007.

Providence and Island have agreed to work together to develop a report for development of the companies’ Celtic Sea oil assets based on a shared floating production facility. This report will be undertaken at Providence’s cost and will be based on its works in the Celtic Sea.