Providence states case for dual drilling targets offshore Ireland

Offshore staff

DUBLIN, IrelandProvidence Resources has issued an update on its collaborative project with Schlumberger to assess various prospects offshore western Ireland.

Newgrange is a lower Cretaceous carbonate prospect in frontier exploration license (FEL) 6/14, in 1,000 m (3,281 ft) water depth in the Goban Spur basin, 270 km (168 mi) off southwestern Ireland. Providence (80%) operates on behalf of partner Sosina Exploration (20%).

A newly revised volumetric estimate, which incorporates 2D long offset seismic reflection profile data acquired in 2014, has increased the un-risked prospective resource potential in Newgrange to around 13.6 tcf of in-place gas, or 9.2 Bbbl of oil in place.

Both oil and gas cases were modeled due to the uncertainty in the hydrocarbon phase which may be applicable in this area.

The top seal capacity at the prospect appears to be a significant risk, with around 500 m (1,640 ft) of overburden. However, a seal capacity analysis, which employed offset well data, seismic velocity data and surface mapping, suggests that the present day top seal could potentially contain a 350-m (1,148-ft) hydrocarbon column.

Planning is under way for an exploration well next year on Providence’s Druid prospect, elsewhere in the region. An additional well on Newgrange, taking into account economies of scale, could cost $22.5 million, the company claims, with potential for further savings.

07/12/2016

Share your news with Offshore at news@offshore-mag.com

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...