Project Profile
Value: US$200 million
Location: SEL 1/11 and LO 12/4, North Celtic Sea Basin, offshore Ireland
Reserves: unknown
Production: 30,000 BOPD (First Phase Production System development)
Start-up Year: 2014
Capacity: 1,300-1,600 bpd
Within the Barryroe area, oil has historically been successfully tested at flow rates of between 1,300 and 1,600 BOPD from three wells drilled by Esso in the 1970's and by Marathon in 1990. The reservoir sands are in the Cretaceous Middle and Lower Wealden sequences between 1,400m and 2,300m (approximately 4,600ft to 7,550ft) below sea level. The oil is light (30 to 42 degrees API) with relatively high wax contents ranging from 12 to 22%. Over the last two years additional subsurface and conceptual development engineering studies have been carried out, in conjunction with studies to assess the optimum parameters for acquiring 3D seismic data. The Barryroe partners have concluded that 3D seismic is the appropriate next step in the appraisal process and plans to contract a boat to acquire the data in the spring of 2011 are underway. Providence Resources currently holds an 80% interest in Barryroe, located in SEL 1/11 and LO 12/4 in the North Celtic Sea Basin, offshore Ireland, through its wholly-owned subsidiary, EXOLA Limited, with Lansdowne Oil and Gas holding the remaining 20% interest through its wholly-owned subsidiary, Lansdowne Celtic Sea Limited ('LCSL'). Licence area increased to cover potential field extensions outside of the originally licensed area. Development of First Phase Production System development concept with initial oil production rates of c. 30,000 BOPD.
Operators:
Providence Resources (through its wholly-owned subsidiary EXOLA Limited): Operator with 30% interest
APEC Energy Enterprise: 50% interest
Lansdowne Oil and Gas (through its wholly-owned subsidiary Lansdowne Celtic Sea Limited (LCSL)): 20% interest
Contractors:
Geokinetics: evaluation of the seismic response
Netherland Sewell & Associates: Audit contract
Polarcus Limited (UK): Seismic survey contract
Seabird Exploration: Seismic survey contract
Procyon Oil & Gas: Concept development engineering study
RPS Energy: Performed static and dynamic modeling of the main Basal Wealden oil-bearing reservoir interval
Transocean (UK): Drilling contractor