PSE Kinsale Energy Limited, a subsidiary of Malaysia’s Petronas, has entered into a contract with Diamond Offshore Drilling (UK) Limited for the Ocean Guardian drilling rig to drill a well on the Midleton Prospect, in SEL 4/07, offshore Ireland.
The Ocean Guardian is expected to drill the Midleton well during August 2015.
The well site survey has been completed over the Midleton location using the survey vessel Polar Surveyor.
In 2014, Petronas entered into a farm-in deal with Lansdowne Oil & Gas for SEL 4/07 block offshore Ireland. Irish Government gave its consent for the farm-in agreement in February 2015. According to this agreement, Petronas’ subsidiary, Kinsale Energy, is now the operator with 80% interest in SEL 4/07 with Lansdowne holding the remaining 20%.
Through the farm-in agreement, Kinsale Energy will fund 100% of the costs of drilling a well (including the site survey work) on the Midleton prospect. Kinsale Energy is continuing work on well planning.
Commenting on the news, Lansdowne CEO, Steve Boldy, said:
“We are pleased with the rapid progress Kinsale Energy has made since taking over as operator and look forward to the drilling of the Midleton well later this year.”