Providence in talks with ‘select number’ of parties

Providence Resources is in discussions with “a select number” of exploration and production companies from Asia, North America, and Europe regarding a farm-in to its Barryroe oil field in the Celtic Sea.

However, in its end-of- year statement, published yesterday, the Dublin-based exploration company said that while it is in talks with parties on deal terms, “there can be no certainty on timing for a mutually acceptable agreement or that an agreement will be reached”.

“Such a partnership would be designed to take Barryroe through detailed appraisal and, ultimately, into production. There has been good industry interest and discussions are on-going,” Providence’s CEO, Tony O’Reilly Jr said.