Providence secures landmark investment deal from Total
The French heavyweight has the option to farm into the so-called Druid well off the south west coast for €23.96m
Providence Resources, the oil explorer led by Tony O’Reilly jr, is ready to play hardball with potential investors into its Barryroe oil field off Cork after securing a landmark investment from global industry giant Total last week.
Under the terms of the deal with Total, the French heavyweight has the option to farm into the so-called Druid well off the south west coast for €23.96 million.
Industry sources said that the deal has...
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