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Providence Resources provides an update on its 3D seismic programme

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Oilfield Technology,

Providence Resources P.l.c. (PVR LN, PRP ID), the Irish-based Oil and Gas Exploration Company, has provided a technical update on a major new multi-client 3D seismic programme, which is planned to be acquired by Searcher Seismic Pty Ltd in summer 2016, subject to regulatory approvals.

The total seismic acquisition programme is planned to cover a large area in the southern Porcupine & Goban Spur Basins, offshore south-western Ireland.

Newgrange exploration prospect

Part of this planned non-exclusive multi-client survey will cover the Newgrange exploration prospect which is located in Frontier Exploration Licence (FEL) 6/14(the ‘Newgrange Licence’). The Newgrange Licence, which is situated in c. 1000 m water depth and c. 260 km off the south-west coast of Ireland,is operated by Providence Resources (80%) on behalf of its partner Sosina Exploration Limited (20%).

Under the terms of a recently executed agreement, Providence and Sosina have agreed to licence a total of 1200km2 of data from Searcher from this planned survey which will provide full 3D seismic coverage over the Newgrange Licence.

John O’Sullivan, Technical Director of Providence said:

“Providence’s cornerstone involvement has been integral in allowing Searcher to plan such a regionally extensive 3D seismic acquisition programme.

We expect, should this survey proceed as planned, that these new high resolution 3D data over our Newgrange prospect will confirm the potential within the Cretaceous section, which had been identified through the previous 2D seismic and facilitate future planning for the prospect.

These new data should also allow us to evaluate the potential in the underlying vertically stacked Jurassic,where significant addition exploration prospectivity has also been identified.”

Adapted from a press release by Louise Mulhall

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