Providence commences seismic survey on Drombeg prospect

7/1/2014

Providence commences seismic survey on Drombeg prospect

DUBLIN -- Providence Resources, the Irish oil and gas exploration and appraisal company, has reported that 3D seismic surveying operations have commenced on its Drombeg oil exploration prospect in the southern Porcupine basin, offshore southwest Ireland.

The Drombeg prospect, which is situated in Frontier Exploration Licence (FEL) 2/14, is a significant Lower Cretaceous stratigraphic amplitude/AVO supported exploration target. The prospect is located in 2,500-m water depth and is 220 km off the west coast of Ireland. FEL 2/14 is operated by Providence (80%) on behalf of its partner Sosina Exploration (20%).

Providence has agreed to licence c. 1,100 sq km of 3D seismic data over Drombeg, which is being acquired by Polarcus as part of a minimum 4,300 sq km non-exclusive multi-client survey. This is one of the largest ever 3D seismic surveys to have been acquired offshore Ireland and is utilizing the M/V Polarcus Amani, which is an ice-class, next generation seismic vessel.

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