Barryroe

Barryroe is an undeveloped oil and gas field discovered in the Atlantic ocean due south of Cork, Ireland. Close to the exhausted Kinsale Head gas field, it is as close as 3 kilometres (1.9 mi) to the Kinsale Head existing pipeline.[1][2][3][4] The discovery is at a water depth of 100 metres (330 ft).[5] Several attempts were made to find a commercial field at the site in the 1970s but although they struck oil, none were commercially viable. It has been rated as the equivalent of a large North Sea oil field.[6]

Barryroe
CountryIreland
RegionCeltic Sea
Offshore/onshoreOffshore
PartnersProvidence 80% Lansdowne 20%
Field history
Discovery1981
Production
Estimated oil in place1,000 - 1,600 million barrels (~−220,000,000 t)
Recoverable oil311 million barrels (~4.24×10^7 t)
Recoverable gas207×10^9 cu ft (5.9×10^9 m3)

As of 2020, the field is 80% owned by Providence Resources (via subsidiary Exola) and 20% by Lansdowne Oil and Gas (via subsidiary Lansdowne Celtic Sea).[7]

Providence has long been seeking a partner to finance development of Barryroe.[8] In 2015 it attempted partnership with Sequa Resources, and in 2018–2020 partnered with Chinese APEC Energy, both without success.[8]

Providence estimated the total reserve in place between 1 and 1.6 billion barrels (160×10^6 and 250×10^6 m3) in July 2012.[9] In April 2013 an independent audit estimated the recoverable total at 311 million barrels (49.4×10^6 m3) barrels of oil, and 207 billion cubic feet (5.9 billion cubic metres) of gas.[10] This gives a total of 346 million barrels (55.0×10^6 m3) of oil equivalent.

References
  1. Keane, Conor (16 March 2012). "Barryroe oil output could hit as much as 20,000 barrels a day". Irish Examiner. Retrieved 8 August 2012.
  2. Keane, Conor (15 March 2012). "Oil-drilling success sends Providence shares up 11%". Irish Examiner. Retrieved 8 August 2012.
  3. Percival, Geoff (24 March 2012). "Providence strikes gas off Cork". Irish Examiner. Retrieved 8 August 2012.
  4. Percival, Geoff (27 June 2012). "Providence may sell 40% of oil field this year". Irish Examiner. Retrieved 8 August 2012.
  5. "Providence Resources: Barryroe oil in place resource update". OilVoice. 25 July 2012. Retrieved 8 August 2012.
  6. Pogatchnik, Shawn (7 December 2019). "40 years and €1.5bn later Barryroe is last hope for Providence". Irish Independent. Retrieved 7 July 2020.
  7. Donnelly, Ellie (13 February 2020). "Providence Resources transferring Apec share of Barryroe to original owners". Irish Independent. Retrieved 29 March 2020.
  8. "Cantillon: Providence's new CEO must strike oil at Barryroe". Irish Times. 14 January 2020. Retrieved 29 March 2020.
  9. "Providence upgrades Cork oil find". The Irish Times. 25 July 2012. Retrieved 8 August 2012.
  10. "Audit confirms Barryroe has 346m barrels". Fxcentre.com. 5 April 2013. Archived from the original on 29 June 2013. Retrieved 5 July 2013.

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