This will cover large tracts of the southern Porcupine and Goban Spur basins, and includes Providence’s Newgrange exploration prospect in frontier exploration license 6/14, 260 km (162 mi) offshore in 1,000 m (3,281 ft) of water.
The company and partner Sosina have agreed to license 1,200 sq km (463 sq mi) of data from Searcher from this survey.
Providence’s technical director John O’Sullivan said the new high-resolution 3D data should confirm the potential in Newgrange’s Cretaceous section, “which had been identified through the previous 2D seismic and facilitate future planning for the prospect.
“These new data should also allow us to evaluate the potential in the underlying vertically stacked Jurassic, where significant addition exploration prospectivity has been identified.”
Newgrange is a lower Cretaceous carbonate play-type similar to the Dunquin North residual oil accumulation drilled by ExxonMobil in 2013, which has estimated 2C recoverable resources of about 1.126 Bboe.
Subsurface studies have also highlighted potential underlying clastic exploration prospectivity within the Jurassic interval.
Seismic interpretation of 2D reflection profile data has revealed the presence of two large stacked four-way structural closures at both base Cenozoic (top Cretaceous) and base Cretaceous levels spanning a 1,000-sq km (386-sq mi) area.
The crest of the Cretaceous closure is just 500 m (1,640 ft) below the seabed, which should make drilling more cost-effective, Providence adds. The previously drilled 62/7-1 well, around 30 km (19 mi) down-structure from Newgrange, had hydrocarbon shows in lower Jurassic sands, indicating a potentially active petroleum system.
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