Oil firm in detailed talks over Barryroe partner

Providence Resources chief executive Tony O’Reilly Jr has hinted that the company is getting close to naming a farm-out partner for its highly anticipated Barryroe oil field in the Celtic Sea.

Speaking at the second annual Ireland Oil and Gas Summit in Dublin yesterday, Mr O’Reilly said Providence is in negotiations with interested parties.

The discussions are understood to be at a very detailed level, with first-phase production costs one of the specifics being negotiated.