Providence Reevaluates Heavy Oil Potential Offshore Ireland
Providence completed a technical assessment of the heavy oil potential underlying the Ardmore gas field, which was discovered by Marathon Oil in 1974, and comprises a gas cap with an underlying heavy oil (c. 16o API) accumulation. Recently completed work revealed the presence of a significant heavy oil resource at the nearby Baltimore discovery, prompting a re-evaluation of the resource potential within the Ardmore oil leg. Providence reevaluated a 2006 3D seismic survey, which suggests an in place resource potential of up to c. 230 MMbo on the Lower Cretaceous aged Ardmore field. Providence will now seek a heavy oil specialist to assess the discovery for potential future development. The Ardmore field is located in Standard Exploration License (SEL) 2/07 in the North Celtic Sea Basin and is located about 37 miles (60 kilometers) off the south coast of Ireland in 295 feet (90 meters) of water. Providence holds a 72.5% operated interest in SEL 2/07 with partners Atlantic Petroleum (18.3%) and Sosina Exploration (9.2%).SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
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