Partners approve budget for well site survey over Irish prospect
Partners in Frontier Exploration License (FEL) 3/04 located in the southern Porcupine Basin offshore Ireland have approved the budget for a well site survey over the Dunquin South prospect, which is a condition for drilling an exploration well on the prospect.
FEL 3/04 is operated by Eni (36.913%) on behalf of its partners, Repsol (33.557%), Providence Resources (26.846%), and Sosina Exploration (2.684%).
The license contains the undrilled Lower Cretaceous “Dunquin South” carbonate exploration prospect as well as the adjacent “Dunquin North” carbonate build-up, which hosts a residual oil column.
Irish company Providence Resources said on Tuesday that, having completed the interpretation of the newly acquired 3D seismic data, the FEL 3/04 partners have now approved the 2019 work program & budget to include the acquisition of a well site survey over the Dunquin South prospect.
Commenting today, Tony O’Reilly, Chief Executive Officer of Providence Resources said: “We are very pleased to confirm that the Dunquin partners have approved the budget for the acquisition of a well site survey over Dunquin South, which is a prerequisite for the drilling of an exploration well on this high impact exploration prospect.”