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

11th June, 2017
Tony O’Reilly jr

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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