Providence Resources said an initial interpretation of acquired seismic data has revealed a major structural closure in the Porcupine basin play.
The company said it had now completed an initial interpretation of the Base Cretaceous within FEL 1/14 using the pre-stack time migrated 3D seismic data.
The interpretation has confirmed the presence of the significant north-south orientated “Ruadhan Prospect” which covers a 36km area.
The new seismic data also shows a significant improvement in the detailed imaging of the structure.
Providence said these data also confirm that the previous 1977 Shell-operated 35/13-1x well, which targeted the Ruadhan Prospect, failed to reach the feature being terminated in the overlying
Lower Cretaceous section due to operational issues.
John O’Sullivan, technical director of Providence, said:”These new 3D data have confirmed the presence of a significant pre-Cretaceous structural closure in close proximity to the proven Upper
Jurassic Spanish Point gas condensate field. When taken in tandem with the previous studies carried out on our adjacent acreage, this latest interpretation supports the potential existence of an extensive and material Upper Jurassic gas condensate structural play fairway across the northeastern flank of the Porcupine Basin.”
Drilling operations are expected to commence next year dependent on government approval.
Further interpretation and mapping will be carried out to finalise the prospective resource potential associated with the prospect.
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