Providence contracts scenario for Barryroe oil development offshore Ireland

Providence Resources (AIM:PRV) has contracted a concept development engineering study of the Barryroe oil field offshore southern Ireland by Procyon Oil & Gas.

Offshore staff

DUBLIN, Ireland --Providence Resources (AIM:PRV) has contracted a concept development engineering study of the Barryroe oil field offshore southern Ireland by Procyon Oil & Gas.

The study will evaluate various development options that came to the fore during a recently completed development screening study.

Barryroe is in the North Celtic Sea basin in 100 m (328 ft) of water in Standard Exploration License (SEL) 1/11 and Licensing Option (LO) 12/4.

Recently RPS Energy performedstatic and dynamic modeling of the main Basal Wealden oil-bearing reservoir interval. This work incorporated data from all five Basal Wealden reservoir well penetrations, and maps compiled from a recent 3D seismic survey.

Analysis has established oil recovery factors in the range 17-43%. A recovery factor of 31% has been modeled for a development scenario involving 41 horizontal production wells and 22 horizontal water-injectors over a 25-year field life.

These wells would be 600 m (1,968 ft) long, with the producers incorporating gas lift. 

10/10/2012

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