Providence Resources Plc, an Irish based oil and gas exploration company, holds a 100% interest in six offshore oil exploration blocks in the Rathlin Basin [P1885] and one onshore licence [PL5/10] on Rathlin Island, off the north eastern coast of Ireland.
Providence was awarded the six offshore blocks in 20122, in the UK Government’s 26th Seaward Licensing Round; and the onshore licence also in 2011 by Northern Ireland’s Department of enterprise, Trade and Investment.
Since these acquisitions, Providence has been carrying out evaluations of existing data and harvesting new data, in particular from Bell Geospace’s recently completed Full Tensor Gradiometry and magnetic airborne survey.
These exercises revealed anomalies – which suggest the possible presence of hydrocarbons – and analysis of the data has identified five large anomalies in the Providence acreage.
The company is now integrating data from various sources towards exploration drilling.
Another company, Rathlin Energy Ltd, has carried out an onshore deep exploration drill in an adjacent area of mainland Northern Ireland [Ballinlea - 1] and has reported that this brought up some good quality oil samples for analysis.
The point of this can be seen in the Providence map above. It is that, as reader Robert Wakeham has pointed out, the northern and eastern boundaries of the acreage of the blocks licensed to Providence may follow a line delineating the respective territorial areas of the Northern Irish Assembly and the Scottish Government.
If this is the case, what appears to be a healthy prospect of oil in this area might indicate similar reservoirs of off Islay and Kintyre, of interest to Scotland.
Providence say of their area in the Rathlin Basin: ‘Providence has identified conventional hydrocarbon prospectivity within the Lower Triassic Sherwood Sandstone Group reservoir interval, which is proven to exist in the basin and which is a prolific hydrocarbon productive reservoir in the nearby East Irish Sea Basin, offshore Liverpool.’
This geographical spread of this particular oil rich geological feature from the Irish sea off Liverpool to the Atlantic off Rathlin, may suggest that the areas off the south east and south of the Mull of Kintyre and south of the Mull of Oa on Islay would reward investigation.
Note: Providence is a serious player. In 2011, with partners, it began a multi-year drilling programme of around $5oo million targeted on a number of exploration and development wells in six different basins offshore Ireland – the largest drilling campaign yet carried out offshore Ireland.
I wonder what survey work has already established in the coastal waters round Argyll – I remember seeing a GECO seismic survey ship tied up in Campbeltown a good ten years ago, and since then the rise in value of oil & gas, and developments in technology, have increased the number of viable prospects enormously.
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There is oil in the Atlantic margins.
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I would have though the prospect of dirty great oil rigs lit up like Christmas trees would have been a cause for apoplexy in newsroom, rather than rubbing hands together with glee.
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It’s unlikely to involve more than one permanent surface installation, possibly none at all; subsea technology plus the proximity of land may mean a receiving tankfarm ashore nearby, or perhaps a spar loading buoy for a shuttle tanker to take the oil to Finnart. If there is enough production potential it may warrant a pipeline linking directly to Finnart.
There would be drilling rigs there for the initial development and periodic well intervention, but once the hardware is installed and the wells producing the sea will be empty most of the time(except perhaps for windmills!).
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Great.
Hopefully it will lead to cheaper fuel prices on Islay!
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I wouldn’t count on it. Fuel prices in Shetland are exorbitant.
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Both PGS and CGG did deep seismic survey in the early to mid 80′s. There are some anomalies that show sincline geology that can trap hydro-carbons…but this does not point at hydro-carbons being present. As you move further north the deep geology and target basement does “not” point at the likelyhood of Oil/Gas…the target depth is around 4000m…the reason is the volcanic activety…the remenants of which are the likes of Skye, Mull etc…don’t bother buying shares…
Better putting your money in an air source heat pump triple glazing and insulation.
It’s interesting to note that when lease bidding was finally agreed a clause to drill: ie company is obliged to drill test well were not included…most likely this points to shale gasses at a shallower depth…is it viable ? not until profit margins increase 10 fold. Oil and gas companies often speculate with unproven reserves…times are hard LOL
As for the Western Geco vessel…this could have been working just about anywhere of the western shelf or even up in the north sea.
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I’m no expert, Karl, but the Rathlin area is not a million miles from the Giant’s Causeway igneous area, then you’ve got the sedimentaries that created the Machrihanish coalfield and all the limestone areas on Islay, and further north the Staffa geology similar to the Giant’s Causeway. So there’s a real old mixture, and surely no clear indications as yet that the sea areas around Argyll are devoid of viable hydrocarbons. Who knows, the Argyll array might even create a problem for offshore exploration & production, and be objectionable for that reason.
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Seismic techniques have improved immeasurably in 3 decades; comparing what the geo could tell you in 1986 with today is like comparing a sliderule with an iPad.
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I am doing the seismic survey of the zubair oil field in Basra…I’m the HSE Manager…20 years of it now.
Techniques have changed…or rather processing of data has changed….Geology does not…
There is a hell of a lot of difference between surface geology such as the giants causeway which was a hi- silica surface flow similar to Staffa and mull and the likes of the Cullin which is Gabbro and formed in the chamber of a volcano…you can virtually draw a line between the GC and Staffa and rule everything NW…until you get out on the continental shelf…
As for the lismore limestones…they pop up again in ardnamurchan but the given the trauma they have been through any chance of reserves would have migrated a millenium x ? ago. They also run out into the Hebridean seas…and thats where Tiree marble comes from…anyhow if you wanna buy shares good luck.
In regards to the coal fields of Macrahanish and the central belt….they are fairly new .
Interesting to note where the target depths of 4000m plus once where when they were formed….somwhere down near the Verde isles…
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