Exploration firm Providence Resources said pre-drill activities have begun at its Dunquin prospect off the southwest coast of Ireland.

Providence has a 16 per cent stake in the prospect, along with partners Eni Ireland and ExxonMobil Exploration and Production Ireland, who both have a 27.5 per cent stake, Repsol Exploracion Irlanda with a 25 per cent interest and Sosina Exploration Limited wit a 4 per cent interest.

The group plans to spud an exploration well on the Dunquin prospect in the second quarter of 2013.

"We are extremely pleased to confirm that the pre-drill activities for the Dunquin exploration well have commenced and that a spud date has now been scheduled," said Providence chief executive Tony O'Reilly.

“This well forms an important part of Providence’s Irish multi-basin, multi-well drilling programme, which kicked off in November 2011.”