Thursday, September 13 14:15:30
Irish oil and gas prospector, Providence Resources, today said it has secured a rig to drill the Dunquin prospect off the Irish coast after a rig deal was agreed by the licence operator, ExxonMobil.
Drilling will start in the first quarter of 2013.
ExxonMobil has signed a letter of intent with Ocean Rig UDW Inc. for the "Eirik Raude" semi-submersible drilling rig. Under the terms of the agreement, it is proposed to use the Eirik Raude to drill an exploration well at Dunquin, located in Frontier Exploration Licence (FEL) 3/04, with an estimated programme duration of up to six months.
ExxonMobil (27.5pc interest) operates FEL 3/04 on behalf of Eni Ireland (27.5pc interest), Repsol (25pc interest), Providence (16.0pc interest) and Sosina Exploration (4.0pc interest).
"We are extremely pleased to confirm that this letter of intent has now been agreed, and that drilling operations at Dunquin are being planned to start in Q1 2013. The Dunquin well forms an important part of Providence's ongoing Irish multi-basin, multi-well drilling programme," Tony O'Reilly, the chief executive of Providence, said.