This concerns the planned 2017Druid drilling program on frontier exploration license (FEL) 2/14, in 2,250 m (7,382 ft) of water in the southern Porcupine basin and around 220 km (137 mi) offshore.
FEL 2/14 contains the Palaeocene Druid and the Lower Cretaceous Drombeg exploration prospects. Providence aims to drill a well on Druid next June, subject to regulatory consents.
Senergy will provide management and well engineering services for design and construction of the Druid well under the LR Global Management System - Well Project Delivery Process.
Based on updated market rates and the well design, Providence estimates a total cost for the well of around $35 million, $11 million lower than previous indications.
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