Exploration company Providence Resources has signed a contract for the provision of a deepwater mobile drilling unit with Stena Drillmax Ice Limited to work on its drilling project in the southern Porcupine Basin.
The FEL 2/14project is located about 220 kilometres off the south west coast of Ireland
The Stena IceMAX is a modern harsh environment dual derrick drill-ship designed to operate in water depths of up to 3km.
Providence said that the operational rig rate is $185,000 per day.
"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," commented Providence's chief executive Tony O'Reilly.
"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," he added.
