Displaying items by tag: semisubmersible

28th February 2012

South Coast Oil Appraisal 'Extremely Encouraging'

#COASTAL NOTES - Providence Resources has found light out with its first appraisal well off the south coast of Ireland, Offshore reports.

The company's semi-submersible GSF Arctic III drilled a well in 100m water to a depth of more than 2km on its Barryroe structure in the north Celtic Sea.

Indications of hydrocarbons were noted during the drilling, and further tests have confirmed the presence of 12.5m of 'net pay' (the thickness of rock that can deliver oil at a profitable rate) with as much as 87% hydrocarbon saturation.

The next stage will be a well flow test programme to determine whether future oil extraction can proceed.

“The confirmation of high quality light oil within a porous and potentially laterally extensive sandstone system is extremely encouraging," said technical director John O'Sullivan.

As previously reported on Afloat.ie, plans by Providence Rescources to prospect for oil pn the east coast off Dalkey Island have been met with fierce opposition by mainland residents and environmental groups.

Offshore has more on the story HERE.

Published in Coastal Notes

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About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.