Crean 3D survey critical for unlocking oil potential, Europa says
Norwegian seismic acquisition company TGS has kicked off the Crean 3D multi-client project on the Irish Atlantic Margin, using the Shearwater GeoServices 3D vessel Polar Marquis.
The multi-client survey of more than 5,400 square kilometers over several blocks in Ireland’s Porcupine Basin is expected to take 140 days with the expected completion in late October.
Europa Oil and Gas, an oil and gas company focused on Ireland, on Monday said that 3D seismic would be acquired over Europa’s 30% owned Licensing Option 16/19 during summer 2017.
Europa has previously said it identified the potential for several Cretaceous submarine fans with gross mean un-risked prospective resources in the range of 300 million to 1 billion boe.
In March 2017, Europa farmed out a 70% interest in and operatorship of LO 16/19 to a wholly owned subsidiary of Cairn Energy PLC. Under the terms of the farm out, Europa will be carried for a US$6 million work programme which will include participation in the Crean 3D over LO 16/19.
Europa’s CEO, Hugh Mackay, said: “The acquisition of 3D seismic is the critical first step towards unlocking the hydrocarbon potential of any licence in the South Porcupine basin. We are therefore pleased that acquisition operations have begun for LO 16/19. We expect to receive a processed product in 2018 after which we can begin detailed interpretation of the 3D data and in due course deliver a prospect inventory, as we look to add to the 32 prospects we have already identified within our Irish portfolio across six different play types and three basins.
“We note the imminent start of drilling operations in FEL 2/14 some 100km south of LO 16/19. The outcome of this well is not only relevant to our Cretaceous fan and Paleocene prospects and leads in the basin, it also has the potential to de-risk all four of our South Porcupine licences across which we have identified gross mean un-risked prospective resources of over 4 billion barrels oil equivalent, half of which have been independently audited by a Competent Person.”
The FEL 2/14 drilling mentioned by Mackay refers to an exploration campaign set to be carried out by Providence Resources using the Stena IceMax drillship. Providence will use the drillship for the Druid & Drombeg exploration wells.
The French oil major Total is waiting for the drilling to be completed, after which it will decide whether to take over the operatorship of the FEL 2/14 block.
Offshore Energy Today Staff