Project Profile
Location: 250 km off the south west coast of Ireland, Ireland
Licence award: October 2011
Start-up year: -
Providence and Repsol each hold 40% stakes in the 11/11 licensing option, which contains the Newgrange exploration prospect, 250 kilometres off the south west coast of Ireland. The remaining 20% interest in the option is held by Sosina Exploration.
Operators:
Repsol: Operator with 40% interest
Providence Resources: 40% interest (after move to transfer operator role to Repsol March 2012)
Sosina Exploration: 20% interest
Contractors:
Polarcus (United Kingdom): Seismic survey contract
SeaBird Exploration Ltd: Seismic survey contract
Searcher Seismic: 9,000km Echidna Regional Broadband 2D seismic survey
Schlumberger: Contract to further de-risk its assets off Ireland’s southwest coast. Providence signed a technical deal covering its interests in the Southern Porcupine and Gorban Spur Basins. Schlumberger will assist Providence’s technical team, facilitating the opening of data-room processes as it prepares to pursue a farm-out at its Drombeg, Druid and Newgrange prospects in the first quarter of 2016.