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Providence Resources set for early survey at Newgrange project

Published: 17:11 18 Jun 2018 AEST

oil and gas operations
The survey will inform applications for a drill permit

Irish explorer Providence Resources PLC (LON:PVR) has announced the earlier than expected start to an offshore survey.

The Gardline M/V Kommandor survey vessel has started mobilisation ahead of data acquisition across Frontier Exploration Licence 6/14 which includes the Newgrange Prospect.

It is two months earlier than previously scheduled.

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The findings of the survey will be used in an application for a permit to drill an exploration well on Newgrange, which is located in around 1,000 metres of water (shallower than other prospects in the west coast’s Atlantic margin) and is some 260 kilometres from shore.

Providence highlighted that talks are ongoing over a potential farm-out deal to bring a partner into the project to support future drilling activity.

"We are pleased to confirm the commencement of the Newgrange site survey operations some 2 months ahead of schedule,” said Dr John O’Sullivan, Providence technical director.

“In tandem with these operations, we continue to liaise with interested potential co-venture partners whilst also constantly monitoring possible rigs of opportunity which may become available for this exciting exploration venture."

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on 17/5/18