COSL Innovator semi-sub to drill Barryroe wells (Ireland)

COSL Drilling’s semi-submersible drilling rig COSL Innovator has been nominated as the rig to drill at the Barryroe oil accumulation located in the North Celtic Sea offshore Ireland.

Providence Resources, the Ireland-based company whose subsidiary Exola operates the license containing the Barryroe prospect said on Wednesday:”…the Barryroe Partners can now confirm that COSL have nominated their 6th generation “COSL Innovator” semi-submersible drilling unit, which is currently based in the Norwegian North Sea.”

The partners in the Barryroe project, sitting in 100-meter water depths in the North Celtic Sea Basin 50 km off the south coast of Ireland, are “EXOLA”, 40%, China’s APEC Energy Enterprises Limited (“APEC”, 50%) and  Lansdowne (10%),

The first well in the program, subject to regulatory consent, is planned to be c. 4.3 km west and c. 25 m structurally high at Base Wealden level to the previous 48/24-10z well which tested c. 4,000 BOEPD from a vertical 7-meter reservoir section at this level. This well is then planned to be sidetracked to drill and test a proposed c. 200-meter Base Wealden section.

Well site survey operations are planned to start during Q2 2019 subject to regulatory consent, with the drilling expected to begin in the third quarter of the year.

Tony O’Reilly, Chief Executive of Providence said: “The rig nomination allows us to progress the rig-related consents for the upcoming Barryroe appraisal drilling program. Subject to the receipt of all necessary regulatory approvals, we currently envisage rig mobilization and drilling commencing during Q3 2019. The Barryroe Partners look forward to working closely with COSL on the execution of this major drilling program and further project announcements will be made as appropriate.”

China’s APEC farmed into the Barryroe block in September 2018, which will provide for a fully cost-carried firm program comprising of the drilling and testing of four vertical wells and one horizontal side-track, plus the optional drilling of two additional horizontal wells. Under the terms of the agreement,  China Oilfield Services Limited (“COSL”) will provide all services and equipment required to conduct the Drilling Programme.

Norwegian rig brokers Bassoe Offshore have estimated that the dayrate for the COSL Innovator could be around $170.000 with a contract duration around of around three months.

Project delay

As previously reported, Providence was in November 2018 forced to postpone its planned well site survey and drilling operations over SEL 1/11, which contains the Barryroe prospect, following a legal challenge.

In November, an application for a judicial review was taken by An Taisce against the Minister of Communications, Climate Action and Environment and the Attorney General of Ireland, challenging the legality of the permission granted to Exola to conduct well-site survey operations at Barryroe.

As reported on November 30, 2018, noting the potential delay and uncertainty that such a review could have caused, the Barryroe partners took a decision not to act on the well site survey permission and postpone the survey for 2019.

Offshore Energy Today Staff