Exploration company Providence has been given a new licence in the Celtic Sea off the south coast of Ireland.
The company describes it a successor licence to its option over the Blackrock oil discovery in the area. Providence also says a recent survey on the Blackrock find has given encouraging results.
Providence has also announced three farm-out agreements with partners who will join it in the new licence. Dutch oil and gas company Dyas and Canada's Forest Gate will each take 15%, while Atlantic Petroleum Ireland will have 10%.
