Spanish Point survey set to get under way

Bergen Oilfield Services should start work next month on a 3D seismic survey in the Porcupine basin off western Ireland.

Offshore staff

DUBLIN --Bergen Oilfield Services should start work next month on a 3D seismic survey in the Porcupine basin off western Ireland.

Providence Resources has commissioned the survey over the Spanish Point discovery. Chrysaor Holdings agreed to fund this program last year as one of the conditions for earning a 30% farm-in interest in the license.

The survey is designed to enhance understanding of the reservoir and optimize future well placement. Depending on the results, Chrysaor may opt to co-fund the costs of two appraisal wells in order to increase its stake to 40%.

Providence says the survey is also configured to accommodate future time lapse 4D seismic reservoir monitoring.

In the Goban Spur basin to the southwest, Providence partners ExxonMobil and Sosina in the Newgrange License Option.

Recently the trio agreed to relinquish six blocks on the south side of the option area in order to focus on the Newgrange gas prospect, a large, four-way dip closed structure extending over 1,000 sq km (386 sq mi). Providence estimates mean recoverable prospective resources at around 10 tcf.

Off Ireland's east coast, the company has a 50% interest with Star Energy/Petronas in a licensing option covering eight blocks in the Kish Bank basin. Here the partners are evaluating CO2 sequestration and natural gas storage potential of underground saline reservoirs.

They have also identified a large exploration prospect in the acreage called Dalkey Island, 8 km (4.97 mi) offshore Dublin.

05/21/2009

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