Providence seals deal to farm out stake in Barryroe oil and gas field

Irish exploration company finalises agreement with Norwegian consortium SpotOn Energy over field off Co Cork coast

26th November, 2020
Providence seals deal to farm out stake in Barryroe oil and gas field
Alan Linn, chief executive at Providence Resources, said the exploration company had made “excellent progress” in agreeing the terms of the farm-out deal. Picture: Fergal Phillips

Providence Resources has finalised a deal to farm out a stake in its Barryroe oil and gas field off the coast of Cork to Norwegian consortium SpotOn Energy.

The deal was initially due to be completed by the end of October but Providence announced last month that it had extended the period of exclusivity with SpotOn to November 30.

A deal has now been finalised and is due to be announced in the coming days.

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