Project Profile
Location: North Celtic Sea Basin
Water depth: 80 metres
Reserves: 120 million barrels
The Hook Head oil discovery is located in the North Celtic Sea Basin in 80 metre water depth and 65 km off the south coast of Ireland. Originally discovered by Marathon oil in 1971, four wells have been drilled to date on the structure all of which have either logged and/or tested hydrocarbons to surface. Analysis suggests that the oil appears to be a high pour point crude with a gravity of 27 degrees API and wax content of 10-20%. The most recent inhouse volumetric estimates suggest that this oil accumulation could contain an in place resource potential of up to 120 mmbo.
In July 1998, Providence acquired a high resolution 2-D seismic survey over the prospect, confirmed the 4-way dip closure and demonstrated that the original discovery well was drilled some way off the crest.
Operators:
Providence: Operator with 72.5% interest
Atlantic Petroleum: 18.5% interest
Sosina Exploration: 9% interest
Off-take companies:
Shell