Irish oil and gas company Providence Resources has secured government approval to undertake a site survey at the Barryroe Project, off the Cork coast.

The Barryroe Project is located in Standard Exploration Licence (SEL) 1/11 at 100m water depth in the North Celtic Sea Basin.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Providence operates the licence through its wholly-owned subsidiary Exola, which owns a 40% stake. The other stakeholders in the project are APEC Energy Enterprises and Lansdowne Celtic Sea.

The Barryroe partners received permission to conduct the survey from the Minister of State at the Department of Communications, Climate Action and Environment.

The scope of the work includes a seabed debris clearance, environmental baseline and a habitat assessment site survey.

According to Providence, the site survey is expected to begin later this month. However, it is subject to the receipt of funding from APEC or alternative financing arrangements being put in place.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In June, the partners of the project agreed on certain amendments to the earlier signed farm-out agreement.

Under the revised terms, the allocated amount to fund the forward costs of Exola as operator of the Barryroe Project was increased from $19.5m to $24m.

The amount will be used on survey operations, consenting the drilling programme and other associated costs. It includes a $9m allocation to fund the front-end well-site survey operations and pre-drill well.

The remaining $15m will be payable before drilling the first well at the site.

Headquartered in Dublin, Providence Resources has a portfolio of appraisal and exploration assets located in offshore Ireland.