Offshore Ireland-Gobar Spur Basin Prospect Could Hold 13.4 Tcf.
Drilling Activity Details
Drilling Activity Summary
Description
In a collaborative exploration program with Schlumberger, Providence Resources Plc has reported that the Newgrange Prospect in offshore Ireland’s Goban Spur Basin could hold unrisked prospective resources of 13.6 Tcf of gas. According to the company, the Lower Cretaceous Newgrange carbonate prospect is principally located in Frontier Exploration License (FEL) 6/14, where area water depth is approximately 1,000 m. The revised volumetric estimation was based on 2014 2-D long offset seismic reflection profile data. Previous estimates also indicated a possible 9.2 Bbbl of oil potential. Both oil and gas cases were modeled because of the uncertainty in the hydrocarbon phase that may be applicable. The partners have also concluded that the prospect has significant risk, given the thin amount of overburden (500 m). Analysis, however, indicated that the present top seal could potentially have a 350-m hydrocarbon column. Dublin-based Providence is the operator of FEL6/14 and the Newgrange Prospect with 80% interest. Sosina Exploration Ltd. holds the remaining 20%.
In a collaborative exploration program with Schlumberger, Providence Resources Plc has reported that the Newgrange Prospect in offshore Ireland’s Goban Spur Basin could hold unrisked prospective resources of 13.6 Tcf of gas. According to the company, the Lower Cretaceous Newgrange carbonate prospect is principally located in Frontier Exploration License (FEL) 6/14, where area water depth is approximately 1,000 m. The revised volumetric estimation was based on 2014 2-D long offset seismic reflection profile data. Previous estimates also indicated a possible 9.2 Bbbl of oil potential. Both oil and gas cases were modeled because of the uncertainty in the hydrocarbon phase that may be applicable. The partners have also concluded that the prospect has significant risk, given the thin amount of overburden (500 m). Analysis, however, indicated that the present top seal could potentially have a 350-m hydrocarbon column. Dublin-based Providence is the operator of FEL6/14 and the Newgrange Prospect with 80% interest. Sosina Exploration Ltd. holds the remaining 20%.