PSE Seven Heads Limited, the operator of SEL 4/07, and a subsidiary of PSE Kinsale Energy Limited, which is in turn a subsidiary of Malaysia’s Petronas, has started drilling operations on the Midleton prospect in the Celtic Sea, offshore Ireland.
Kinsale Energy holds an 80% interest in SEL 4/07, with Lansdowne holding the remaining 20%. Through the farm-in agreement announced in November 2014, Kinsale Energy will fund 100% of the costs of drilling a well on the Midleton prospect.
The Ocean Guardian semi-submersible rig started drilling at 06.15hrs on July 29, 2015. The well is scheduled to take approximately 20 to 30 days. The contract for the rig with the rig contractor Diamond Offshore Drilling was inked in June 2015.
Commenting on the news, Lansdowne CEO Steve Boldy said:
“We are delighted that Kinsale Energy has moved forward to drill the Midleton exploration well this year and we look forward to updating the market once the results are known.”