Oil and gas explorer Providence Resources said on Monday that it has completed the Barryroe site survey, about 50 km off the south coast of Ireland, ahead of schedule and under budget.
The Irish based energy company operates the Barryroe Project, one of its best prospects for oil, on behalf of its partners, APEC Energy Enterprises Limited and Lansdowne Celtic Sea Limited. The area lies in about 100 metre water depth in the North Celtic Sea Basin.
The completion of the Barryroe site survey comprised a seabed debris clearance, environmental baseline and habitat assessment survey over proposed well locations A & B in the Barryroe field within SEL 1/11.
The company said that the site survey over proposed well locations C & D in the Barryroe field can now be carried out as part of a separate campaign.
“The site survey was completed ahead of schedule and under budget due to excellent vessel performance and overall favourable weather conditions,” Providence said.
The oil and gas explorer, led by Tony O’Reilly jnr, has been the subject of some uncertainty as to its future funding pipeline. Its Chinese backers, Apec, are now due to submit funding of some $9 million (€8.1 million) by September 30th, following persistent delays.
