Providence gets Kish Bank license extension offshore Ireland

Offshore staff

DUBLIN, Ireland – The Minister of State for the Department of Communications, Climate Action and Environment has granted Providence Resources an extension for standard exploration license (SEL) 2/11 in the Kish Bank basin offshore eastern Ireland.

The company holds and operates the license (100%) which contains the Lower Triassic Sherwood Sandstone Kish prospect, located about 6 km (4 mi) offshore in about 25 m (82 ft) of water.

The sole holder and operator of SEL 2/11 now has until Aug. 17, 2018 to complete the first phase of the license. An overall extension of one year to the license term was also granted, until Aug. 17, 2020.

The extensions should allow for the planning, consent and drilling of an exploration well on the Kish prospect within the first phase of the license, Providence said. The company has also voluntarily relinquished 55.39% of the area under the license considered to be unproductive.

CEO Tony O’Reilly said: “These phase extensions to SEL 2/11 are very welcome as they should allow us to progress the Kish Prospect to drilling, given the lead time in consenting for a near-shore activity. We will now commence work on our foreshore license submission, which will be a precursor to any further work leading up to the drilling of the Kish prospect.”

11/16/2016

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