Providence and Shell sign production deal on two future Celtic Sea assets
The Tony O’Reilly Jnr-headed oil and gas exploration company announced yesterday, via a short statement, that it has signed a memorandum of agreement with Shell’s trading and distribution division to negotiate an “oil off-take sale and purchase agreement” relating to future potential oil production from the Irish company’s Barryroe and Hook Head oil discoveries, both located in the North Celtic Sea Basin off the south coast.
This marks the first time Providence has worked with Shell and is the first agreement signed regarding either of the assets.
