Ireland: Providence decides on Druid well rig

  • Exploration & Production

Ireland-based oil and gas exploration company Providence Resources is finalizing an agreement for the provision of a drilling rig to be used for drilling the Druid prospect, offshore Ireland. 

The company issued a tender for a rig contract for the Druid exploration well, in Frontier Exploration Licence (FEL) 2/14 in the southern Porcupine Basin, in September this year.

FEL 2/14 is located c. 220 km off the south-west coast of Ireland and is situated in c. 2,250 meter water depth. The license is operated by Providence, with 80% stake, on behalf of its partner Sosina Exploration Limited, that holds the remaining 20% stake, and contains the Paleocene Druid and Lower Cretaceous Drombeg exploration prospects.

As part of the ongoing operational build-up to the drilling of the exploration well on the Druid prospect in 2017, the company said on Tuesday it recently completed an evaluation of available and capable deep-water drilling units through a rig tender process.

This process identified a number of suitable units and, according to EU procurement rules, the company has now issued a letter of intent to a contender for the provision of these services. Providence said that the parties will now proceed to finalize a contract over the coming weeks. The spud date is set for June 2017.

Tony O’Reilly, Chief Executive of Providence Resources said: “This is another key milestone for our planned drilling at Druid, further demonstrating the progress that we are making in pursuing the continued development of our significant portfolio offshore Ireland.”

Related news

List of related news articles