Providence Resources completes farmout of FEL 2/14 to Total
Published by Laura Dean,
Deputy Editor
Oilfield Technology,
Providence Resources P.l.c., the Irish based Oil and Gas Exploration Company, provides a Licence Update on Frontier Exploration Licence (FEL) 2/14.
Providence has confirmed that, having received approval from the Minister of State at the Department of Communications, Climate Action and Environment, the farm-out comprising the assignment of equity (35%) and transfer of operatorship of FEL 2/14 to TOTAL E&P Ireland B.V., a wholly owned subsidiary of TOTAL S.A., has now completed. FEL 2/14 contains the undrilled Diablo prospect as well as the drilled Druid & Drombeg prospects.
The equity in FEL 2/14 is now TOTAL (Operator - 35%), Capricorn (30%), a wholly owned subsidiary of Cairn Energy PLC, Providence Resources P.l.c. (28%) and Sosina Exploration Limited (7%).
Read the article online at: https://www.oilfieldtechnology.com/special-reports/13072018/providence-resources-completes-farmout-of-fel-214-to-total/
You might also like
Wood Mackenzie: six-country international shale priority list for energy security as Middle East conflict drives supply diversification
Middle East conflict has elevated strategic energy security priorities as countries seek supply diversification, international shale exploration can play a key role in meeting those goals, according to new research from Wood Mackenzie, titled “A hydrocarbon copy: the upstream industry’s return to international shale exploration”.