Providence acquires 40% stake in Kinsale Head gas field

Exploration company Providence (via its subsidiary Eirgas) has exercised its option to acquire a 40% stake in a group of assets centred on the Kinsale Head gas field from Labuan Energy, a subsidiary of Petronas.

Eirgas is a special purpose vehicle established by Providence to invest in gas production, storage and trading opportunities offshore Ireland and in the United Kingdom.