Providence Resources PLC and Lansdowne Oil & Gas PLC agreed to farm-out 50% working interest in Barryroe oil and gas field, Standard Exploration License (SEL) 1/11, to Spoton Energy Ltd. and a consortium of international service providers.
Barryroe—in the North Celtic Sea basin about 50 km off the south coast of Ireland in 100 m of water—is one of the largest undeveloped oil and gas fields offshore Europe.
Spoton and the consortium will fund 100% of the early development program and full field development. Early development includes four wells and floating production facilities designed to appraise and produce the field. The campaign is expected to begin late-2022.
SEL 1/11 is operated by EXOLA DAC (80%), a wholly owned subsidiary of Providence Resources, on behalf of partner Lansdowne Celtic Sea Ltd. (20%).
