The licence is operated by Providence Resources P.l.c. (80%) on behalf of its partner Sosina Exploration Limited (20%), (collectively referred to the 'JV Partners'). FEL 2/14 contains the Paleocene 'Druid' and the Lower Cretaceous 'Drombeg' exploration prospects.
Stena IceMAX Rig Contract
On behalf of the JV Partners, Providence has signed a contract for the provision of a Harsh Environment Deepwater Mobile Drilling Unit (the “Contract”) with Stena Drillmax Ice Limited (“Stena”), a wholly owned subsidiary of Stena International S.A., for the Stena IceMAX drill-ship. The Stena IceMAX is a modern harsh environment dual derrick drill-ship designed to operate in water depths of up to c. 3 km. The Contract provides for one firm well, plus an additional option, which is electable at the discretion of the JV Partners for the drilling of a second follow-on well. The operational rig rate is US$185 000/d.
In addition to the finalisation of the Contract, other key service contracts are now being prepared for the planned drilling operations. Based on the latest project timeline and, subject to standard regulatory approvals and consents, the 53/6-A exploration well is currently planned to spud in June 2017.
Tony O’Reilly, Chief Executive of Providence said:
“We are delighted to have signed this rig contract with Stena. Our previous exploration collaboration project with Schlumberger highlighted the significant hydrocarbon potential of FEL 2/14 which we will now be evaluating using the high specification Stena IceMAX drill-ship. The signing of this rig contract is a major milestone in the project plan to enable the drilling of this high impact exploration well during summer 2017.”
About Stena IceMAX
Stena IceMAX is the world’s first dynamically positioned, dual mast ice-class drillship. The Stena IceMAX is a Harsh Environment DP Class 3 drillship capable of drilling in water depths up to 10 000 ft. The IceMAX has onboard 2 x BOPs, each 18 ¾ in. x 15 000 psi Cameron 'TL' BOP c/w ST Locks, and uses Cameron Load King riser. The vessel was delivered in April 2012.
About FEL 2/14 - Druid & Dromeg
During the initial pre-FEL 2/14 authorisation phase (Licensing Option 11/9 - 2011 through 2013), Providence and Sosina identified two large vertically stacked Paleocene (‘Druid’) and Lower Cretaceous (‘Drombeg’) fan systems with notable Class II amplitude versus offset ('AVO') anomalies primarily from 2D seismic data acquired in 2008. Providence and Sosina subsequently agreed to underwrite a multi-client 3D seismic survey over the area. This 3D survey was acquired by Polarcus in the summer of 2014 and subsequently processed by ION Geophysical in 2014/15. In September 2015, Providence and Sosina entered into a Strategic Exploration Collaboration Project with Schlumberger.
In April 2016, the main results of this Project were announced:
- Two fans located c. 1750 m BML and structurally up-dip from a potential significant fluid escape feature from the underlying pre-Cretaceous Diablo Ridge.
- Cumulative in-place un-risked prospective resources of 3.180 BBO (PMean).
- Fan 1 – 984 MMBO (PMean).
- Fan 2 – 2196 MMBO (PMean).
- Pre-stack seismic inversion and regional rock physics analysis shows Druid is consistent with a highly porous (30%) and high net-gross, light oil-filled sandstone reservoir system up to 85 m thick.
- A depth conformant Class II AVO anomaly is present and synthetic forward modelling of an oil-water contact correlates with the observed seismic response.
- Spectral decomposition, seismic compactional drape and mounding are reflective of a large sand-rich submarine fan system with no significant internal faulting and clear demonstration of an up-dip trap mechanism.
- Geomechanical analysis using regional well and high resolution seismic velocity data indicates that Druid is normally pressured and the top seal is intact.
Dromberg Prospect (Lower Cretaceous)
- • Located c. 2750 m BML and structurally up-dip from a potential significant fluid escape feature from the underlying pre-Cretaceous Diablo Ridge.
- • In-place un-risked prospective resource of 1.915 BBO (PMean).
- • Pre-stack seismic inversion and regional rock physics analysis shows Drombeg is consistent with a highly porous (20%), light oil-filled sandstone reservoir system up to 45 m thick.
- • A depth conformant Class II AVO anomaly is present and spectral decomposition is reflective of a large sandrich submarine fan system with no significant internal faulting, and supports an up-dip trap mechanism.
- • Geomechanical analysis using regional well and high resolution seismic velocity data indicates that Drombeg is over-pressured with an intact top seal.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/24112016/stena-icemax-drill-ship-contracted-to-start-drilling-project-on-fel-214/