Providence Resources PLC (LON:PVR) has received the go-ahead to conclude previously agreed partnership deals offshore Ireland.
The Minister of State at the Department of Communications, Climate Action and Environment has given consent for Providence to transfer stakes in certain projects.
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It is now able to assign a 10% interest in the Helvick project in the Celtic Sea to Lansdowne Oil & Gas Ltd (LON:LOGP).
The company will also assign 10% of Helvick to Nu-Oil and Gas Plc (LON:NUOG) subsidiary, Marginal Field Development Company Limited, and it will assign 10% in the Dunmore project, also in the Celtic Sea.
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Additionally, the company has been given consent to acquire interests in the Dunquin South project from Atlantic Petroleum, as agreed in July 2015, where it is partnered with Eni and Repsol.
Providence now formally owns 26.846% of Dunquin South.