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The Barryroe test rig. Pic: Providence Resources
OIL exploration company Providence Resources have today revised upwards estimates of how much oil can be extracted from the Barryroe Oil Field off the coast of West Cork.
In its latest assessment, Providence estimates that the field should produce in the region of 280m barrels of oil.
The Barryroe test rig. Pic: Providence Resources
IRISH oil exploration company Providence Resources says there could be even more oil than first thought in the Barryroe oilfield off the West Cork coast.
The company has just published the initial results of a survey of the oil field that lies 50km of the West Cork coast.
The Barryroe test rig. Pic: Providence Resources
THE share price of Irish oil exploration company Providence Resources has risen further on the news of another significant oil prospect off of the coast of West Cork.
The new discovery is in the Drombeg licence area about 200km south of Castletownbere.
The Barryroe test rig. Pic: Providence Resources
WEST Cork could be set for a massive oil boom following the latest revelations from oil exploration company Providence Resources which estimates the Barryroe Oil Field is four times bigger than originally thought. [Read more...]
The Barryroe test rig. Pic: Providence Resources
OIL exploration company Providence Resources has confirmed that results form the Barryroe test rig some 40 miles off the West Cork coast has returned oil flows of more than 3,500 barrels per day.
Analysis also suggests the oil is of high quality and the field could contain up to a billion barrels.
The test results were much better than expected and though it is still early days it now looks increasingly likely that Barryroe could become Ireland’s first commercially productive oil field within the next two to three years.
Oil rigs like this could soon be seen off the West Cork Coast
WEST Cork could soon see it’s own mini oil-boom if the latest findings by oil exploration company Providence Resources prove to be true.
The Irish firm, headed by Tony O’Reilly have issued a report on the Barryroe Field in the Celtic Sea which indicates that it could become Ireland’s first commercially viable oil field.
So far the company has only drilled test wells to see if there is potential to bring the oil to the surface in commercial quantities.
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