Project Profile
Unrisked Resources (mid-case): 37 bcf (1.04 bcm)
Location: St. George\'s Channel Basin, off eastern Ireland
Standard Exploration Licence 1/07 in the St. George’s Channel Basin contains part of the Dragon gas field (c.25%) as mapped from existing seismic and well data. The Dragon field, which straddles the Irish/ UK median line, was discovered in 1994 by Marathon Oil. The development of LNG facilities at nearby Milford Haven in South Wales has made the development of the Dragon resource more attractive. Providence received a licence for the UK side of the Dragon discovery, P1930, but later relinquished the licence in July 2016 after fresh 3D seismic indicated the deposit was subcommercial. It continued to hold Irish licence 1/07 with 100% interest as of June 2016.,
Providence’s previous assessment of Dragon’s hydrocarbon upside had been based on a 2011 seismic map which showed bright trough amplitudes within the Callovian Upper reservoir inversion. These had suggested hydrocarbons were trapped in fault panels downdip on the Dragon structure.
Operators:
Providence Resources plc.: Operator with 100% interest (Irish Licence)