Irish oil company awards seismic survey for Newgrange licence
Irish oil and exploration company Providence Resources has announced that a new high resolution 2D seismic survey of its Newgrange licence has been contracted to marine survey company Gardline.
The contract will also see Gardline providing data suitable for input to an application for the permitting of an offshore exploration well.
Gardline plan to mobilise the M/V Kommandor vessel, which is expected to carry out the data acquisition during third quarter of 2018, subject to regulatory consent.
Situated in around 1,000 metres of water depth, and located about 260 km off the south-west coast of Ireland, the Newgrange Prospect FEL 6/14 is operated by Providence on behalf of its partner Sosina Exploration, which has a 20pc share, together referred to as the Newgrange Partners.
Read more: Can Providence strike it rich?
At the same time, Providence said that potential farm-out discussions continue with respect to this licence.
"We are pleased to announce the award of the 2018 Newgrange data acquisition programme to Gardline and look forward to commencing operations during the summer months. The Newgrange prospect provides significant stacked exploration potential at both Jurassic and Cretaceous levels with proven source, reservoir and seal demonstrated in the previous off-structure 62/7-1 exploration well," Dr John O'Sullivan, technical director of Providence said.
"The relatively shallow nature of the reservoir intervals also means that this data acquisition programme may provide even further insight to de-risk the potential presence of hydrocarbons within the subsurface prior to drilling."