Providence offered follow-on licence for off-shore option

‘Newgrange’ site lies 260km off south west coast of Ireland

John O’Sullivan (left), technical director for the Providence Resources with Tony O Reilly with Dr Brian Hillery. Photographer: Dara Mac Dónaill /The Irish Times

John O’Sullivan (left), technical director for the Providence Resources with Tony O Reilly with Dr Brian Hillery. Photographer: Dara Mac Dónaill /The Irish Times

 

Oil and gas exploration firm Providence Resources said it has been offered a follow-on frontier exploration licence for its Newgrange option.

The comany was awarded the option, which is 260km off the south west coast of Ireland in the Goban Spur basin, as part of the 2011 Irish Atlantic margin licensing round. It operates the licence, with an 80 per cent share, while partner Sosina Exploration has a 20 per cent stake.

Planning for a 1,000km 2D seismic survey has begun, the firm said.

“Previous drilling has highlighted the prospectivity within the Jurassic and Cretaceous intervals of the Porcupine Basin, with much current industry focus on these Mesozoic play systems,” technical director John O’Sullivan said. “ The recent Dunquin North exploration well has proven that oil has been generated in the adjacent southern Porcupine Basin which flanks the Goban Spur and that Cretaceous carbonates can provide high porosity massive reservoir systems. The new 2D seismic programme is being designed to de-risk the Newgrange prospect at both prospective levels and should provide the critical data in order to advance this material prospect towards drilling.”

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
GO BACK
Error Image
The account details entered are not currently associated with an Irish Times subscription. Please subscribe to sign in to comment.
Comment Sign In

Forgot password?
The Irish Times Logo
Thank you
You should receive instructions for resetting your password. When you have reset your password, you can Sign In.
The Irish Times Logo
Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.
Screen Name Selection

Hello

Please choose a screen name. This name will appear beside any comments you post. Your screen name should follow the standards set out in our community standards.

The Irish Times Logo
Commenting on The Irish Times has changed. To comment you must now be an Irish Times subscriber.
SUBSCRIBE
Forgot Password
Please enter your email address so we can send you a link to reset your password.

Sign In

Your Comments
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Standards. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or by filling out this form. New comments are only accepted for 3 days from the date of publication.