France’s Total has farmed into an offshore block sitting in Ireland’s Porcupine Basin, some 220 kilometers off the southwest coast of Ireland.
Irish oil and gas Providence said on Friday that the previously proposed farm-in had been completed, following a recent approval from the Minister of State at the Department of Communications, Climate Action and Environment.
Total has taken 35 percent stake and operatorship over FEL 2/14 license. The license contains the undrilled Diablo prospect as well as the drilled Druid & Drombeg prospects.
The equity in FEL 2/14 is now Total with 35%, Capricorn with 30%, Providence Resources P.l.c. with 28% and Sosina Exploration Limited with 7%.
During 2017 Providence focused on the planning, consenting and drilling of the 53/6-1 Druid/Drombeg exploration well. The Stena Drilling-owned drillship Stena IceMAX was used for the operations. However, the results were a disappointment for Providence as no hydrocarbons were found on those prospects.
In a recent presentation, Providence said that it was working on the post well analysis regarding the drilling operations completed last year in the block. The company said it would then wait and see what happens with the Iolar exploration well being drilled on adjacent block by CNOOC.