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Providence kicks off Spanish Point shoot
Published 22.06.2009 11:27:54 by John Bradbury
Ireland's Providence Resources has kicked off a new seismic survey over its Spanish Point gas and condensate discovery area off the west coast of Ireland.The 3D survey covering 300 sq. km is expected to take up to 60 days to complete over the Jurassic gas and condensate discovery, Providence indicated today, with the operation being carried out by Bergen Oilfield Services using the BOS Angler survey ship.
Costs incurred for the survey will be borne by licence partner Chrysaor E&P Ireland as part of a farm-in agreement with Providence which sees Chrysaor acquire a 30% stake in the Frontier Exploration Licence 2/04 covering the Spanish Point area.
Providence operates the 2/04 area with 56% and Sosina Exploration holds the remaining 14% licence stake.
Spanish Point was discovered with the 35/8-2 well which flowed at 1,000 b/d of oil and 5 Mmccf/d of gas during testing across four hydrocarbon-bearing intervals.
Providence said the new survey is aimed at improving reservoir understanding and to inform future well placement decisions.
As Offshore247.com has previously reported, Spanish Point, which was originally drilled by Phillips Petroleum with the 35/8-2 back in 1981 is estimated to contain contingent recoverable reserves of 1.4 Tcf of gas and 160 million barrels of oil.
The field lies in water depths between 300 and 400 m (984 -1,312 ft) about 200 km (125 miles offshore, and was considered to be uneconomic at the time. Nearby lies the Burren oil discovery, found with the 35/8-1 well, which is southwest of Spanish Point, which was drilled by Phillips in 1978 and flowed at 700 b/d of 34° API oil.
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