Providence has been granted an increase in the areal extent of its 100% operated Standard Exploration License (SEL) 1/07 in the St George's Channel Basin, offshore southeast Ireland by the Department of Communications, Energy and Natural Resources.
This revised license authorization contains the mapped extension into Irish waters of Marathon's proven UK Dragon gas field, which was
The Dragon Field lies approximately 60 kilometers from Milford Haven in South Wales where two new LNG facilities are being commissioned.
Speaking today, Tony O'Reilly, Chief Executive of Providence, said, "We are pleased to have expanded our acreage in the Dragon Field
area. The proximity of the newly installed gas infrastructure associated with the newly commissioned LNG facilities could act as a catalyst for the future development of discovered resources within the area. Additionally, using our extensive sub-surface knowledge of the area, we will continue to evaluate the exploration potential for gas production as well as storage opportunities."
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