Energy Voice | Providence picks Gardline for Newgrange survey

Dublin-based oil explorer Providence Resources said today that Gardline would conduct a 2D seismic survey of the Newgrange prospect off the south-west coast of Ireland.

Gardline will mobilise the M/V Kommandor vessel, which is expected to carry out the data acquisition during the third quarter of 2018.

Commercial discussions in relation to a potential farm-out of equity of the licence are continuing.

Providence’s partner on Newgrange is Sosina Exploration, with 20%.

Providence technical director John O’Sullivan said: “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.

“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.”

Source link