Providence puts drill plan on hold

Providence Resources has scrapped immediate plans to drill off Dublin’s coast.

The exploration company was awarded a foreshore licence for its Dalkey Island prospect in the Kish Bank Basin in October; a move which gave it the green-light to undertake exploratory drilling in the first quarter of this year.

However, the company yesterday surrendered that licence, citing a “lack of clarity” regarding the permission granted, which it said could have resulted in legal challenges against it and “undue delays” in its work.