Friday February 28, 2020

Providence still waiting for key Chinese payment

Apec is due to drill Providence’s Barryroe oil field off the Cork coast and the payment is part of the contract’s terms. It has been delayed several times, however, since an original deadline was missed

13th August, 2019
A drilling rig at Providence Resources’ Barryroe field. Pic: Finbarr O’Rourke

The company, Apec, is due to drill Providence’s Barryroe oil field off the Cork coast and the payment is part of the contract’s terms. It has been delayed several times, however, since an original deadline in June was missed.

On Tuesday morning, Providence said the funds had not been received by August 12, but it had received further assurances that the money was in the process of being paid. As a...

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