Bandon well proves oil offshore Ireland

Serica Energy has discovered oil in the Slyne basin off western Ireland.

Offshore staff

LONDON -- Serica Energy has discovered oil in the Slyne basin off western Ireland.

The well on the Bandon prospect in Frontier license FEL 1/06, spud by the semisub Ocean Guardian on May 11, was drilled to a total depth of 6,233 ft (1,900 m) through Jurassic and Sherwood intervals. The rig then drilled a sidetrack to acquire additional data and samples.

According to Serica, this is the first new oil find in the region for nearly 30 years. Although the company cannot estimate in-place volumes at this stage, results look encouraging.

Serica now plans a re-mapping campaign, using existing 3D seismic data to further evaluate the prospectivity of the license, including three potentially gas-bearing structures in Sherwood sand.

The Irish government awarded the license in December 2006 for a maximum of 15 years. Recently, RWE Dea farmed in with 50% to help share the burden of drilling costs.

06/09/2009

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