Irish oil and gas exploration firm, Providence Resources, has been offered shares in nine South Celtic Sea blocks in a new licence.
The 18-month licence covers two offshore blocks and seven part-blocks over 1,530 square kilometres.
Existing 2D survey data indicated the presence of lower Jurassic oil-prone shales which have already been producing oil in the Northern Celtic Sea basin.
“This latest addition to our extensive portfolio is a result of our ongoing technical re-evaluation of Ireland’s under-explored offshore basins through the prism of new technology, higher pricing, improved infrastructure together with a fiscal regime designed to attract an inward flow of foreign direct investment,” said John O’Sullivan, Providence technical director.
The company will now carry out new seismic mapping to further assess the prospect’s potential.
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