More oil off Cork coast, says Providence

An additional 778m barrels of oil at Barryroe site, says Irish oil company.

AN OIL FIELD off the Cork coast could hold an additional 778m barrels of oil, according to Irish oil explorer Providence Resources.

The company, which reported in July that there was as much as 1.6bn barrels of oil at the Barryroe site, said that two deeper reservoirs revealed that there was further potential.

“Whilst our focus remains firmly fixed on progressing the Middle and Basal Wealden sands into development, it is very encouraging to have identified this additional resource potential at Barryroe” said Providence’s technical director John O’Sullivan in a statement today.

Barryroe was originally discovered by Esso in the 1990s, but not fully developed.

How much is the Barryroe oil find actually worth to us?>

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