Providence Resources has confirmed that the Minister of State at the Department Communications, Energy and Natural Resources has approved Cairn's farm-in deal as operator to licences off the west coast of Ireland.
The exploration company said that Cairn now has a 38% working interest with co-venturers Providence (32%), Chrysaor (26%) and Sosina Exploration (4%).
Cairn also said today that it has secured a drilling rig for the planned Spanish Point appraisal well in the Porcupine Basis, offshore Ireland.
Cairn and its partners on the site will use the Blackford Dolphin rig, which underwent a $400m upgrade in 2006.
Providence Resources' chief executive Tony O'Reilly said that this well is the third of six wells being drilled as the company's Irish multi-basin, multi-well drilling programme.
''This programme kicked off in November 2011 with the Barryroe appraisal well in the Celtic Sea and has been followed by the high impact Dunquin exploration well, where operations are ongoing. We very much look forward to the upcoming appraisal drilling operations at Spanish Point,'' Mr O'Reilly added.
