Polarcus completes acquisition of the Ireland Porcupine Basin 3D multi-client project

Polarcus has successfully completed acquisition of a major new 3D broadband multi-client project in the southern Porcupine Basin, offshore SW Ireland. The extensive survey, undertaken in partnership with ION GeoVentures, saw the technologically-advanced 3D seismic vessel Polarcus Amani tow an ultra-wide 1,350m receiver array comprising ten 2Hz solid digital streamers of 8,100m length. This large seismic spread, towed at 14m to maximize weather uptime, enabled the vessel to cover 4,300 square kilometers in just 73 days within a challenging Atlantic frontier environment. 

 

The multi-client project provides 3D coverage over Providence Resources’ “Drombeg” exploration prospect and the adjacent open acreage on offer in the current 2015 Atlantic Margin Oil and Gas Exploration Licensing Round. Polarcus and ION GeoVentures are also partnering with SeaBird to acquire up to 6,600 km of regional 2D multi-client data across the entire basin with the objective of providing a regional context to this new frontier hydrocarbon province.

 

A preliminary data volume from the 3D survey will be available by year end 2014 with the final data volume available in March 2015, well ahead of the closing date for license round applications of 16 September 2015



This project forms part of the Company’s existing backlog that has been previously announced through the Oslo Stock Exchange