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Repsol operates on Irish deep licence
Posted 22.03.2012 12:46:30 av John Bradbury
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Repsol has taken over from Providence Resources on an Irish deepwater licence in the Atlantic Margin region which was awarded last year.

Licensing option 11/11, designated Newgrange, was awarded in the Irish Atlantic Margin Round last year, covering acreage 250 kilometres south west of the Irish mainland, with water depths up to 1,000 metres (3,280 feet).

Providence and Repsol both have 40% equity, and Sosina holds 20%.

Today Providence Resources said that all the licence partners have agreed that Repsol should now take over as operator , in recognition of the company's deepwater expertise

“Partners are already co-venturing on the nearby and potentially analogous Dunquin exploration prospect which was recently confirmed for drilling in Q2 2013,” nnoted Providence chief executive Tony O''Reilly. “The partners look forward to leveraging on Repsol's range of resources and capabilities in order to advance Newgrange to drill ready status.”
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