Providence planning Celtic Sea crude by 2013

PROVIDENCE Resources, a Dublin-based energy explorer, may bring Celtic Sea crude ashore by 2013 as it seeks to make the first profitable Irish oilfield, said chief executive Tony O’Reilly.

“We’re interested in trying to get as quickly to commercialising flowing oil as we can” at the Barryroe field, Mr O’Reilly said yesterday in a telephone interview. “There are various development scenarios that would be considered by the partnership, but you could look at fast-track late 2013, 2014.”

Providence, which has the biggest stake in offshore Irish exploration licences, will begin drilling an appraisal well next month at Barryroe off the southern coast. While it has enough funds for the exploration programme, bringing oil ashore will require extra cash, Mr O’Reilly said.