GALWAY, IRELAND--(MARKET WIRE)--Aug 22, 2008 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- Irish oil and gas development company Providence Resources plc (ISE:PRR) (Dublin) announced this week the creation of a 50:50 joint venture with Star Energy Group plc (London). The joint venture will evaluate the suitability of the Kish Bank, off Dublin Bay in the Irish Sea, for a carbon and gas storage facility. A similar carbon storage project has been in operation in the Norwegian North Sea since 1996. The project is operated by StatoilHydro ASA (STO - News) (Stavanger, Norway) and was designed to offset carbon tax liabilities.

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