Providence agrees to second phase of west-coast project

Exploration company Providence has said it has agreed with its partners to enter a scond phase of dilling off the west coast of Ireland.

The second phase expires in four years.

Providence has a carried 16% interest in the project, and its partners now include Exxon-Mobil (40%) and ENI (40%).

Providence recently announced its intention to purchase 40% of Petronas' interest in the Kinsale Head complex.