Providence Resources P.l.c., yesterday confirmed the forward programme for Frontier Exploration Licence (FEL) 3/04, which contains the Dunquin exploration prospect.
ExxonMobil Exploration and Production Ireland (Offshore) Limited (27.5% interest) operates FEL 3/04 on behalf of its partners, Eni Ireland B.V. (27.5% interest), Repsol Exploracion Irlanda, S.A. (25% interest), Providence Resources Plc (16.0% interest) and Sosina Exploration Limited (4.0% interest).
Following a recent meeting, the 2012 budget was approved by all partners which includes the provision for well design activities and procurement of long lead items as part of the ramp up to the drilling of an exploration well on the Dunquin prospect next year. The current plan is to spud the exploration well in 2Q 2013.
Commenting on this news, Tony O’Reilly, Chief Executive of Providence said, “We are extremely pleased to confirm that the pre-drill activities for the Dunquin exploration well have commenced and that a spud date has now been scheduled. This well forms an important part of Providence’s Irish multi-basin, multi-well drilling programme which kicked off in November 2011. ”
FEL 3/04 (the Dunquin licence) covers 5 blocks (44/18, 44/23, 44/24, 44/29, 44/30) in the South Porcupine Basin, 200km off the South West coast of Ireland, where the water depth is over 1,500m. In August 2009, ExxonMobil, on behalf of the licence partners, notified the Irish Department of the Communications, Energy and Natural Resources that the licence partners had elected to enter the second phase of the licence, which requires a well to be drilled. Subsequently, in July 2010, a site survey was completed on the Dunquin North prospect to assess the site for the drilling of an exploration well.
[mappress] Offshore Energy Today Staff, February 14, 2012; Image: Providence Resources