SERICA should complete drilling its Bandon probe west of Ireland over the next two or three weeks with the reasonable likelihood that a gas discovery on trend with Shell’s Corrib 1trillion cu ft asset will be made.
The project is being managed by AGR out of Aberdeen utilising the semi-submersible, Ocean Guardian, which was mobilised from the Cromarty Firth for the task. Bandon reserves are estimated to be in the range 230billion cu ft to 1.7trillion cu ft, with a median P50 estimate of 840billion cu ft. What is particularly encouraging is that this prospect has displayed “strong” direct hydrocarbon indicators during survey.
Bandon is one of a number of prospects identified on the Slyne Basin acreage licensed to Serica. Another, Boyne, may have reserves in the range 300billion cu ft to 2.1trillion cu ft, with a median estimate of 1trillion cu ft.
What makes Bandon especially attractive is that it is located only 40km (25 miles) south of Corrib, so is an excellent candidate for tying into that project’s infrastructure – not that Shell has completed development of the field yet due to determined opposition by a number of protestors. The “Shell to Sea” campaign has kept Corrib bogged down for several years.
Another aspect of the Serica probe is that the company apparently has on staff a number of people who were with Enterprise Oil when it discovered Corrib in 1996. Enterprise was subsequently taken over by Shell.
Energy understands that their involvement with Bandon reaches back to the time that Enterprise surveyed the Slyne Basin area prior to selecting Corrib as the primary drill target. It is thought that Bandon is on trend.
Bandon was awarded to Serica in 2006 as part of licence 1/06, covering blocks 27/4, 27/9 and part of block 27/5, in the Slyne Basin. In 2008, RWE Dea farmed into 50% of the 1/06 licence area after agreeing to fund the bulk of costs for the exploration well, which is aiming to test a Triassic Sherwood reservoir – the same reservoir that is gas-bearing at Corrib.
As indicated above, Serica has mapped several large prospects; these are at the Triassic level. The company believes there is also scope for oil in shallower Middle Jurassic geology.
Ireland has immediate and long-term needs for local gas supplies as it currently imports more than 90% of its energy needs. Any sizeable discovery in the blocks would be a welcome addition to the country’s energy supplies.