Schlumberger teams with Providence offshore western Ireland

Offshore staff

DUBLIN, IrelandProvidence Resources has signed an incentivized exploration collaboration agreement with Schlumberger for the southern Porcupine and Goban Spur basins offshore western Ireland.

Schlumberger will support Providence’s technical team by providing access to advanced exploration technologies.

According to Dr. John O’Sullivan, Providence’s technical director, there has been a significant jump in interest in these basins from global E&P players - Providence was awarded its first concessions in these regions in 2004.

“Our first mover advantage has allowed us to secure what we believe is some of the most materially prospective acreage in these basins,” he said, “with the subsequent well results at Dunquin North [drilled by ExxonMobil in 2013] and in the Flemish Pass, offshore Eastern Canada serving to vindicate our initial exploration strategy.

“Having recently acquired modern high quality 2D and 3D seismic data over our primary prospects, we now plan to capitalize on our unique proprietary database by using Schlumberger’s best in class multi-disciplinary technologies in order to leverage in a deepwater operator.”

The duo plans to address the burial and hydrocarbon expulsion history in both basins and to undertake a regional top seal capacity analysis.

Their main goal is to further de-risk the Dunquin South, Drombeg, Druid and Newgrange exploration prospects, along with any new acreage acquired in the area.

In addition, Schlumberger will support Providence’s data-room farm-out process for these prospects, set to get under way early next year.

Providence’s portfolio in these basins comprises Dunquin South and Dunquin Ridge in frontier exploration license (FEL) 3/04; Drombeg, Druid and Diablo Ridge in FEL 2/14 (operated); and Newgrange and Newgrange Ridge in FEL 6/14 (operated).

The company has a small interest in the Eni-operated Cuchulain prospect.

09/21/2015

 

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