Drilling on the giant Irish exploration prospect Dunquin might get underway in 2008 if the wishes of junior partner Providence Resources are fulfilled.
With the prospect of an estimated 25 Tcf of gas in place and up to 4 Bn bbl of oil, Providence which has a 16% interest in the huge deepwater prospect is keen to see majority partner Exxon Mobil which holds 80% equity start drilling as soon as possible.
Asked about the start of exploration drilling, Tony O’Reilly Junior, chief executive of Providence said: “I would like to drill it yesterday.”
Realistically however, the Providence chief suggested a drilling programme might be possible in 2008, but he pointed out Dunquin will would require a large and well equipped deepwater semi-submersible rig capable of operating in the 1,500 m (4,920 ft) water depth at the field location off the south west coast of Ireland.
Work to date on Dunquin includes the acquisition of 1,500 km of 2D seismic data acquired earlier this year, which Providence has indicated provided both very good regional data and the quality of it “exceeded expectations.”
Currently Providence, Exxon and minority partner Sosina Exploration which holds a 4% stake in the field, are working on data processing which is expected to take most of 2007.
This data will help both define future work programmes over the prospect area and help identify potential drilling locations.
Dunquin lies in Irish blocks 44/18, 24, 24, 29 and 30 and the licence area was acquired by Providence in 2004.
Providence now has an “area of mutual interest” agreement in place with Exxon covering the entire Southern Porcupine Basin including the Dunquin area
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