Offshore Ireland explorer Providence Resources has inked a letter of intent for use of a deepwater drilling rig to drill on the deep water Druid prospect in the southern Porcupine Basin in 2017.
The Druid prospect is in Frontier Exploration License (FEL) 2/14 about 220km off the south-west coast of Ireland in 2250m water depth.
Providence Resources is operator, with 80% interest, with partner Sosina Exploration (20%). Druid is a Paleocene prospect. The license also contains the Lower Cretaceous Drombeg exploration prospect. A contract on the rig is due to be finalized in coming weeks.
Tony O’Reilly, CEO at Providence Resources said: "This is another key milestone for our planned drilling at Druid, further demonstrating the progress that we are making in pursuing the continued development of our significant portfolio offshore Ireland."
Read more
Subscribe
