A report from Exxon Mobil states that the water breached reservoir they discovered last year had initially held 1.2 billion boe and indications are that nearby Dunquin South prospect could be even bigger.
The Porcupine Basin has had limited exploration over the last 30 years. Initial drilling in the shallower waters of the northern Porcupine Basin saw the discovery of three hydrocarbon accumulations, now known as Spanish point, Burren and Connemara. Two wells were spudded in the Southern Porcupine Basin in the 1980s, one of which found traces of oil.
However Exxon say that, with this recent find, the Porcupine Basin now has compelling evidence for “whole-scale oil generation, expulsion and entrapment”.
Spectrum has enhanced approx. 14,000 km of 2D marine seismic data from the West of Ireland. This regional dataset complements the Petroleum Affairs Division survey which was acquired in 2013 and 2014.
The reprocessed PORC97, DGSRT-96 and ISROCK-96 surveys are available now. Final deliverables on all other surveys will be available in Q4 2014, in time for the 2015 Atlantic Margin Oil and Gas Exploration Licensing Round.
Source: Upstream Online