Project Profile
Location: Goban Spur Basin, 260 km off the south-west coast of Ireland
un-risked prospective resources: 13.6 trillion cubic feet of gas
Area: 1,204 sq km
Water Depth: 1,000 - 1,500 metre
Exploration Drilling Start-up Year: 2017
The Newgrange Licence, which is situated in c. 1,000 metre water depth and c. 260 kilometres off the south-west coast of Ireland, is operated by Providence Resources 80% on behalf of its partner Sosina Exploration Limited 20%. Under the terms of a recently executed agreement, Providence and Sosina have agreed to licence a total of 1,200 km2 of data from Searcher from this planned survey which will provide full 3D seismic coverage over the Newgrange Licence.
Operational highlights of the field from 2015 after analysis from the project Operator:
• Seismic supports top seal and reservoir presence for Cretaceous target
• Pre-Cretaceous structural closure far larger than previously mapped
• Adjacent third party Licensing Options awarded in 2015 Atlantic Margin Licensing Round (June, 2016)
Operators:
Providence Resources: Operator with 80% interest
Sosina Exploration Limited: 20% interest
Contractors:
Schlumberger: a strategic and incentivised exploration collaboration agreement with Providence to address the burial and hydrocarbon expulsion history of the southern Porcupine and Goban Spur Basins, together with a regional top seal capacity analysis.
- carried out revised volumetric estimation, which incorporated recently acquired 2D long offset seismic reflection profile data. (July, 2016)
Subcontractors: