Total converts Avalon into Frontier Exploration License (Ireland)

Irish oil and gas company Providence has informed that the Total-operated licensing option 16/27 offshore Ireland has been granted a Frontier Exploration License Status 2/19, with effect from February 1, 2019.

The offshore block is located in the southern Porcupine Basin offshore Ireland and contains the undrilled Paleocene “Avalon” exploration prospect.

It is operated by TOTAL E&P Ireland B.V. (“TOTAL”) (50.0%), with partners being Providence Resources P.l.c. (40.0%) and Sosina Exploration Limited (10.0%).

The JV Partners recently applied to convert LO 16/27 to a Frontier Exploration Licence (“FEL”) and are pleased to confirm that the Minister of State at the Department of Communications, Climate Action and Environment has now confirmed approval for the JV partners to convert LO 16/27 to FEL 2/19, with effect from February 1, 2019,” Providence said.

Under the terms of a Farm-out Agreement agreed between the JV partners in June 2017, in the event that a decision is taken to drill an exploration well on Avalon, TOTAL will pay 60% of the drilling costs, subject to a gross well cap of  $ 42 million.

Dr John O’Sullivan, Technical Director at Providence, said: “We are very pleased to confirm approval from the Minister to progress the Avalon Licensing Option to Frontier Exploration Licence status.

“Avalon is a very large and exciting prospect, which lies adjacent to Dunquin North, and the JV Partners look forward to progressing it further under the Operatorship of TOTAL.”

 

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply