Providence Resources, the Irish exploration company has signed a strategic and incentivised exploration collaboration agreement with Schlumberger.
The deal relates to the southern Porcupine and Goban Spur Basins off Ireland’s west coast, where Schlumberger will underpin Providence’s technical team with specific “state of the art” technology access.
These relate to the burial and hydrocarbon expulsion history of the southern Porcupine and Goban Spur Basins, together with a regional top seal capacity analysis.
The joint study has been primarily designed to further de-risk the Dunquin South, Drombeg, Druid and Newgrange exploration prospects, together with any new acreage acquired in the area.
Schlumberger will also support Providence in facilitating farm-out data-room processes for the Drombeg, Druid and Newgrange prospects, which are expected to commence in 2016.
Technical Director Dr John O’Sullivan, said : “Since our initial entry into the southern Porcupine and Goban Spur Basins in 2004, we have witnessed a significant increase in interest in these basins from global E&P players.”
“Having recently acquired modern high quality 2D and 3D seismic data over our primary prospects, we now plan to capitalise on our unique proprietary database by using Schlumberger’s best in class multi-disciplinary technologies in order to leverage in a deep-water Operator.’