Irish oil and gas exploration firm Providence Resources agreed to contract with Polarcus MC Ltd. and Seabird Exploration for the provision of the 2500sq km of the 2D data in the Newgrange area, which lies in 1000m water depth in the Goban Spur basin, 260 km off the south west coast of Ireland. It is contained within Irish Frontier Exploration License 6/14.
Providence says that approximately 1000 sq km will be focused on the Newgrange prospect together with associated seismic well tie lines. The survey is currently planned to begin this month using the M/V Harrier Explorer. It will tie into Polarcus' South Porcupine MC3D survey which is ongoing in the Drombeg area and where approximately 3000sq km of data has already been acquired. It will also tie into the Dunquin North exploration well, which has proven an oil exploration play concept in Cretaceous-aged carbonates in the area.
According to Providence, previous subsurface studies have highlighted both clastic and carbonate exploration prospectively at Newgrange within the Jurassic and Cretaceous intervals, respectively.
Seismic interpretation of existing 2D reflection profile data have revealed the presence of two large, stacked, four-way structural closures at Base Cenozoic (Top Cretaceous) and Base Cretaceous (Top Jurassic) levels covering up to an approximate 1200sq km area. The previously drilled 62/7-1, which is located approximately 30 km from the Newgrange prospect and was drilled off-structure, encountered hydrocarbon shows in sands of Lower Jurassic age.
Providence Technical Director John O'Sullivan commented in a company statement:
"This is the second seismic program that Providence has underwritten offshore Ireland in 2014 and builds on the 3D surveying that is currently ongoing over our Drombeg prospect,” says John O’Sullivan, Providence technical director. “These new surveys, in tandem with our participation in the Dunquin North exploration well, demonstrate our commitment to the future exploration of the frontier southern Porcupine Basin where an oil-charged Cretaceous-aged carbonate petroleum system was recently confirmed by drilling.”
Providence says that very few undrilled structures of this magnitude remain along the north west European Atlantic Margin and that new seismic data should not only provide further clarity and definition as to the resource potential within the vast Newgrange structure, but should allow for future exploration well planning.
Providence is the operator and holds an 80% interest with Sosina Exploration that holds 20%.
Providence and Sosina were awarded Newgrange as part of the 2011 Irish Atlantic Margin Licensing Round.
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