Providence buys into major Irish gas assets

摘要

London-Ireland's Providence Resources has exercised an option to acquire from Malaysia's Petronas a 40% interest in the Kin-sale Head gas area offshore southern Ireland, Providence said September 15. The area is made up of the Kinsale Head, southwest Kinsale and Ballycotton gas fields. As part of the same deal Providence also is acquiring 40% of Petronas' 86.5% interest in the producing Seven Heads gas field next to Kinsale Head. That will give Providence 34.6% of the field.