Providence Resources said that the Druid and Drombeg prospects in the southern Porcupine Basin, offshore Ireland, could hold total cumulative in-place unrisked prospective resources of 5 billion bbl of oil. The company, which carried out the prospective resource research in a joint industry project with Schlumberger, revealed that both prospects could be evaluated with a single vertical exploration well, costing an estimated USD 85 million.
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