Providence Resources has surrendered the Foreshore Licence (Licence) granted over an area in the Kish Bank Basin, offshore Dublin. The Licence was awarded by the Foreshore Unit of the Irish Department of Environment, Community and Local Government on 27th September 2012 and permitted the carrying out of a well site survey and the drilling of an exploration well in the Kish Bank Basin, located within Standard Exploration Licence (SEL) 2/11.

Providence holds a 50% interest in SEL 2/11 which it operates on behalf of itself and its partner, PSE Seven Heads Limited, a wholly owned subsidiary of PETRONAS.

The decision to surrender the Licence was taken by Providence and its partner following discussions with the Department of Environment, Community and Local Government when it became clear that there were certain elements of the EU, EIA Directive that were not transposed correctly in 1999 by the Irish Government.

Tags: Providence Resources Plc