O’Reilly: We’ll submit bids

Providence Resources has said it is likely to submit bids in the next offshore Ireland licensing round, whenever that may be announced.

While the Government has yet to give any indication as to when it will launch its next licensing round, the recent confirmation of the commencement of its €20m seismic survey to glean the oil and gas potential in the Atlantic Margin is being seen, by some, as a precursor to a new round sometime next year. The programme is being carried out as a reaction to the 2011 Atlantic Margin Licensing Round resulting in large areas on offer receiving no applications, due to a lack of available seismic data.

Speaking after his company’s AGM, yesterday, Providence chief Tony O’Reilly jr suggested the company would likely continue its proactive approach to taking part in offshore licensing rounds in Irish waters. The company has a growing number of longer-term assets in Irish waters, on top of its current high-profile five-basin drilling campaign which is headlined by the likes of Barryroe in the Celtic Sea and Dunquin off the Kerry coast.