Dunquin drills off West could begin next year

Drilling is expected to start next year on the Dunquin oil and gas licence off the West coast of Ireland — which is 16%-owned by Providence Resources.

The 700sq km licence — one of the most highly anticipated in Irish waters — was previously 80%-owned by Providence, but after a series of farm-out deals the Irish company’s control has decreased, even though it is still a key value element of its portfolio.

Dunquin is predominantly owned by global oil giant ExxonMobil and Spanish company Repsol, who control 27.5% and 25% respectively. Providence and the UK-based Sosina own 16% and 4% respectively.