Providence strikes Schlumberger data deal

Providence Resources yesterday said it had signed an “incentivised” technical deal with oil services giant Schlumberger to help it develop its interests in the Southern Porcupine and Goban Spur areas off the south-west coast.

“Schlumberger will underpin Providence’s technical team with specific ‘state of the art’ technology access,” the company said in a statement to the stock market.

It also plans that Schlumberger will help it pull together key geological data as it prepares to farm-out the development of the Drombeg, Druid and Newgrange prospects, a process it expects to get underway early next year.