Deepwater exploration activity offshore Ireland is finally hotting up in the wake of the 2011 Atlantic Margin licensing round, with explorer Providence Resources planning to convert a licensing option over the Drombeg prospect into a frontier exploration licence.

Providence is also looking to shoot a 3-D seismic survey over Drombeg, which lies in a water depth of 2,500 m (8,200 ft) approximately 220 km (137 miles) offshore and 70 km (43 miles) from the Dunquin exploration well drilled by ExxonMobil in the same Porcupine Basin region last year.

Drombeg is estimated to contain P50 reserves of 872 MMbbl with a reservoir depth at 3,000 m (9,840 ft) subsurface.

Providence is to convert the 11/9 Licensing Option on Drombeg into Frontier Exploration Licence (FEL) 2/14 – after making a statutory relinquishment of 25% of the original licensing option area. Future exploration plans include a 500 km 3-D seismic survey over FEL 2/14, for which planning has already started, Providence stated.

Drombeg is a Lower Cretaceous prospect of similar age and in a similar depositional setting to other Porcupine Basin prospects identified to the north and east, and which are being targeted by Kosmos Energy.

Providence operates FEL 2/14 with 80%, partnered by Sosina Exploration with 20%.