Providence Resources acquires seismic data over licence in the Porcupine Basin


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Irish oil and gas explorer Providence Resources has acquired a multi-client seismic survey in respect of its Avalon prospect.

This prospect is located in the Porcupine Basin off Ireland’s south-west, and the 1,500 sq km 3D of seismic data forms part of the larger Crean survey completed by TGS in 2017.

The licence is operated by French giant Total, which has a 50pc interest.

In a statement, the Dublin-listed company and its partners said the new data should “significantly” improve the marking out of the Avalon prospect, together with facilitating any drill-decision on the prospect.

Dr John O’Sullivan, technical director at Providence, said: “These new 3D seismic data should greatly enhance our understanding of Avalon’s origins, resource potential as well as possible exploration well locations.” 

“As these data are ‘off the shelf’, they should greatly reduce the cycle time to the drill-decision for the Avalon prospect.  We look forward to providing further updates to shareholders in relation to the assessment of these new 3D data.”

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