Offshore Ireland focused Providence Resources has been approved to move into the second phase of exploration on Frontier Exploration License (FEL) 2/14, containing the Druid and Drombeg prospects.
FEL 2/14 is in about 2250m water depth in the southern Porcupine Basin and about 220km off the south west coast of Ireland.
Providence can move into a second phase of the license, subject to the completion of an agreed work program, including drilling exploration well 53/6-A on the Paleocene Druid prospect and the subsequent integration of the well data into a comprehensive assessment of the petroleum potential of the license.
Providence signed a rig contract on the Stena IceMAX in November 2016, with drilling scheduled for this year.
Tony O’Reilly, CEO of Providence, said: “We are pleased to have received this confirmation from the government on the license progression as we continue to move forward with all the necessary works to enable the drilling of this high impact exploration well during summer 2017.”
License 2/14 is operated by Providence Resources with 80% interest with partner Sosina Exploration (20%).