Landsdown Oil and Gas and Providence Resources has announced it has been granted permission to begin drilling at the 48/24-K Barryroe appraisal well in the Barryroe Field.
Barryroe, located in the North Celtic Sea Basin, off the south coast of Ireland, has had six wells successfully drilled on the structure.
The companies involved in the Barryroe project have begun work on planning and consenting and the procurement of drilling equipment to begin work in 2018.
Esso successfully drilled four wells in the Barryroe region in the 1970s with Marathon Oil also proving oil there in the 1990s.
Landsdown Oil and Gas hold a 20% stake in the project.
The companies involved stated the were “pleased to confirm the Barryroe partners have now entered into a period of exclusivity with a potential farminee in order to conclude contractual negotiations, having reached provisional agreement on key commercial terms for a multi-well programme at Barryroe”.