Displaying items by tag: Porcupine Basin
Offshore reports that Dolphin Drilling has negotiated the contract to appraise the Spanish Point prospect in the Porcupine Basin on behalf of Capricorn Ireland, subject to regulatory approval.
It will also drill early next year in British waters for MPX North Sea, with both contracts expected to last five months for a total revenue of €67 million.
The Porcupine Basin off Kerry has been identified as a source of enormous reserves of oil - after Petrel Resources announced the discovery of as much as one billion barrels of oil at the prospect late last year.
#MarineNotice - The latest Marine Notice from the Department of Transport, Tourism and Sport (DTTAS) advises of a 3D seismic survey in the Porcupine Basin off the Kerry coast to begin in early July for a period of seven weeks, weather permitting.
Polarcus, on behalf of Kosmos Energy Ireland, is scheduled to carry out the work over an area of more than 5,700 square kilometres in a region previously identified as having potential for enormous oil reserves.
Carrying out the survey will be the seismic vessel M/V Polarcus Amani (Call sign: C6ZD3). The vessel will be towing 10 cables, each 7.2km long and 150m apart, at a depth of 10m. The total width of the array is 1.35km. A buoy with a radar reflector and navigation strobe light will be deployed at the end of each cable.
The seismic vessel will also be accompanies by the support vessel M/V Bravo Sapphire (Call sign: ZDJY8) and chase vessel M/V Calvin (Call sign: 3EGU4). All three will be listening on VHF Channel 16 throughout the project.
The work vessels will also be restricted in their ability to manoeuvre while carrying out the survey, and all other vessel are requested to give these operations a wide berth and keep a sharp lookout in the relevant areas.
Full details of co-ordinates and a map of the work area are included in Marine Notice No 28 of 2013, a PDF of which is available to read or download HERE.
The company was recently awarded two blocks in the waters south of Ireland which were drilled in the 1980s and subsequently abandoned.
But new techniques in the oil industry are allowing previously unviable resources to be extracted - as Petrel Resources are planning to do off the Kerry coast, following the discovery of enormous oil reserves in the Porcupine Basin.
And the Celtic Sea in particular has already attracted attention after Providence Resources announced its discovery of oil reserves at its Barryroe prospect potentially worth billions of euros.
Fastnet Oil, chaired by Cathal Friel, is currently in discussions with major oil groups with a view to sharing the costs of the seismic survey.
The Irish Independent reports on the findings by the Dublin-based company which show enormous reserves of oil in the Porcupine Basin off the south-west coast.
As previously reported on Afloat.ie, the company said in September that it has identified a number of targets across the more than 1,400 sq km area of the Atlantic Ocean west of Dursey Island.
Technical studies conducted then on blocks in the northern and eastern parts of the basin for reservoir sands were described as "encouraging".
Now Petrel says that computer analysis shows several oil fields stacked in layers that could be tapped by a smaller number of oil wells.
The distance from shore - approximately 200km - plus the location of the oil reserves beneath 1km of water and a further 3km of rock present some difficulties, but new techniques in the oil industry are allowing previously undrillable resources to be extracted.
Petrel Resources is seeking a partner to invest in drilling for oil, and is preparing its application to the Government for a licence.
The Irish Independent has more on the story HERE.
The Irish Times reports that the Dublin-based firm was awarded licensing options over 1,400 sq km of the Porcupine Basin or Porcupine Blight in the Atlantic Ocean, west of Dursey Island in Co Kerry.
It has since completed two phases of work in the area, and says technical studies of its blocks in the northern and eastern parts of the basin, where is is testing for the presence of reservoir sands, were "encouraging".
The announcement comes following the success of Providence Resources' prospect in the Celtic Sea off the south coast.
The Irish Times has more on the story HERE.