Providence Resources (LON:PVR) is now ready to advance the Dalkey Island prospect after being awarded a licence from the Irish authorities.
The Dalkey Island prospect is located in shallow waters off Dublin’s coast, within the company’s Standard Exploration Licence 2/11.
The new licence allows Providence to carry out a 2D seismic programme, a well site survey and drill an exploration well within the foreshore.
Providence and its partner, Malaysian oil major Petronas, have already committed to drilling a well within the exploration licence, subject to being granted a suitable licence.
The Irish explorer said it will now advance procurement activities for the surveying and subsequent drilling work.