"The government has relinquished control over the offshore areas of our industry. Norway was tough regarding oil companies from the start. You now have an almost embarrassingly large pension fund. The situation for Irish communities, however, is as in Ogoniland in Nigeria - oil is a curse,”
Providence Resources has been awarded a standard exploration licence in the Kish Bank Basin, off the coast of Dublin.
Exploration company Providence Resources has been awarded a standard exploration licence in the Kish Bank Basin, off the coast of Dublin, by the Department of Communications, Energy and Natural Resources.
The licence has been granted for a period of up to six years, and is split into two three year phases.
The licence contains the Dalkey Island exploration prospect and the partners in the project have committed to the drilling of at least one well during its first phase.
Providence holds a 50% interest in the licence and operates on behalf of its partner Star Energy.
Previous exploration drilling in the Kish Bank Basin has confirmed the potential for petroleum generation with oil shows seen in a number of wells along with natural hydrocarbon seeps recorded from air surveys.