Providence signs terms for deepwater well offshore Ireland

Stena DrillMAX drillship
(Courtesy Stena Drilling)

Offshore staff

DUBLIN, IrelandProvidence Resources has contracted the drillship Stena DrillMAX to drill a deepwater well offshore western Ireland next June, subject to regulatory approvals.

The contract provides for one firm well with an option for a second, follow-on well, at a day rate of $185,000.

The vessel will drill the 53/6-A prospect in frontier exploration license (FEL) 2/14 in the southern Porcupine basin, in around 2,250 m (7,382 ft) of water, 220 km (137 mi) offshore southwest Ireland.

FEL 2/14 contains the Palaeocene Druid and Lower Cretaceous Drombeg prospects.

In addition, Providence is working on other key service contracts for the planned drilling operations.

CEO Tony O’Reilly said: “Our previous exploration collaboration project with Schlumberger highlighted the significant hydrocarbon potential of FEL 2/14 which we will now be evaluating...”

11/29/2016

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