Providence takes Stena drillship for work off Ireland

Providence takes Stena drillship for work off Ireland

Irish oil and gas firm Providence Resources has signed a contract for the Stena drillship Stena IceMAX for work at the Frontier Exploration Licence 2/14 drilling project, off the south west coast of Ireland.

The contract is for one firm well, at an operational day rate of $185,000, and has a further option for the drilling of a second well.

Tony O’Reilly, chief executive of Providence, commented: “We are delighted to have signed this rig contract with Stena. Our previous exploration collaboration project with Schlumberger highlighted the significant hydrocarbon potential of FEL 2/14 which we will now be evaluating using the high specification Stena IceMAX drill-ship. The signing of this rig contract is a major milestone in the project plan to enable the drilling of this high impact exploration well during summer 2017.”

Providence says that based on the latest project timeline the well is currently planned to spud in June 2017.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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