Repsol takes command of deepwater Ireland license

Offshore staff

DUBLIN, Ireland – Repsol Exploracion Irlanda is set to become operator of Licensing Option 11/11 off southwest Ireland. The permit is around 250 km (155 mi) offshore in around 1,000 m (3,281 ft) water depth.

It was awarded in October to a consortium of Providence Resources (40%), Repsol (40%), and Sosina (20%) under the 2011 Irish Atlantic Margin Licensing Round.

Providence says the move is in recognition of Repsol’s deepwater drilling experience and its recent successes in carbonate exploration elsewhere in the Atlantic (particularly Brazil).

Transfer of operatorship has been approved by the Irish government.

Providence CEO Tony O’Reilly said: “The Newgrange partners are already co-venturing on the nearby and potentially analogous Dunquin exploration prospect which was recently confirmed for drilling in 2Q 2013.

“The partners look forward to leveraging on Repsol’s range of resources and capabilities in order to advance Newgrange to drill ready status.”

3/23/2012

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