Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Survey Confirms Significant Oil Potential off Northern Ireland

change text size

Irish explorer Providence Resources reported Thursday that an airborne survey carried out over its P1885 and PL 5/10 licenses in the Rathlin Basin, offshore Northern Ireland, has confirmed significant oil potential in the area.

Providence said it acquired data from a 'Full Tensor Gradiometry' (FTG) and magnetic airborne survey, carried out by Bell Geospace, and that initial processing of these data revealed the presence of five FTG anomalies that were deemed prospective for hydrocarbon exploration. The company added that the primary FTG anomaly, the 'Polaris' prospect, which lies in the Rathlin Sound just off the coast of Northern Ireland, is coincident with a significant structural feature imaged on vintage 2D seismic data. This prospect also lies structurally on-trend with the onshore 2008 Ballinlea-1 well, which successfully recovered good quality oil to the surface during testing.

Providence that further processing of its newly-acquired gravity data indicates that the Polaris feature is a large areally-extensive structure covering around 12 square miles. An initial P50 volumetric estimate, based on gravity and offset well data, indicates an in-place prospective resource potential of approximately 530 million barrels of oil for the prospect.

Providence Technical Director John O'Sullivan commented in a statement Thursday:

"We continue to be very encouraged by the results of the recent FTG programme, which has exceeded our pre-survey expectations. The Rathlin Basin has always been considered prospective due to the presence of a rich oil prone source rock, however poor seismic imaging has historically rendered it difficult to determine the basin's true hydrocarbon entrapment potential. We believe that our application of new technologies such as Full Tensor Gradiometry should allow for a complete re-assessment of this frontier basin. We have now commenced planning for a future drilling programme in 2014, which includes necessary site investigations, local permitting requirements together with regulatory and local stakeholder liaison."

Providence had plenty of success around Ireland last year, where it proved up significant resources at its Barryroe discovery off the south coast and saw progress with several other exploration projects. O'Sullivan confirmed Thursday that drilling operations planned for 2013 include the upcoming deepwater exploration well on the Dunquin prospect, an appraisal well on the Spanish Point gas condensate discovery and an exploration well in the Kish Bank Basin.

"In 2014, we plan to drill an exploration well on the Polaris Prospect and an appraisal well on the Dragon gas field," he added.


 

 



A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Jon Mainwaring
European Editor | Rigzone.com
 -  Team RECon Wins US Leg of BP's Ultimat... (Apr 17)
 -  Crimea: the Oil and Gas Story (Apr 14)
 -  Repsol Hired 1,062 New Employees in 20... (Apr 14)
 -  BP Competition Winners Look Forward to... (Apr 11)
 -  VNG's Pil Well Flows at 6,710 Bopd (Apr 10)
Most Popular Articles
From the Career Center
Jobs that may interest you
Senior Upstream Research Analyst - Latin America
Expertise: Geologist, Geophysicist, Petroleum Engineering
Location: USA, TX
 
Senior Geologists/Geologists
Expertise: Geologist
Location: USA, TX
 
GEOTECHNICIAN
Expertise: Geoscience Technician
Location: DENVER, CO
 
search for more jobs