Offshore & subsea - 20 July 2020

The Luda 21-2/16-3 regional development is expected to reach its peak production of approximately 25 600 bpd in 2022.

Providence Resources is working with SpotOn Energy and members of a consortium to finalise the farm out work programme for Exploration Licence SEL1/11, which includes the Barryroe oil and gas field offshore Ireland.

The projects will commence in 3Q20 and are expected to be completed by 1Q21.

The acquisitions remain conditional on agreeing the terms of the refinancing of Premier’s existing credit facilities, equity funding and customary other approvals, including shareholder approval.