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    Ireland's Providence bolsters board

Summary

The new hires come after a farm-out deal at the Barryroe discovery fell through earlier this year.

by: Joseph Murphy

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Complimentary, Natural Gas & LNG News, Europe, Corporate, Appointments, News By Country, Ireland, Ireland

Ireland's Providence bolsters board

Two new members have joined the board of Irish explorer Providence Resources, the company said on July 22, as it continues to look at options for developing the Barryroe oil and gas field.

Peter Newman will serve as a senior independent non-executive director and also chair Providence's audit committee. He worked as head of oil and gas at Deloitte for seven years, and is currently a director of investment group Addax and Oryx.

Ann-Marie O'Sullivan will meanwhile join the nominations committee of the board. She is the founder and CEO of communications consultancy AM O'Sullivan.

The new hires follow setbacks at Barryroe, hailed as Ireland's largest oil discovery with nearly 350mn barrels of oil equivalent. Providence and its partner Lansdowne had hoped to farm out a stake in the project this year to Norway's SpotOn Energy. But the latter failed to deliver on financing commitments.