Business Irish

Saturday 20 September 2014

Providence hopeful of third massive oil find off Irish coast

Published 24/01/2013 | 11:18

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A Providence rig during the drilling at Barryroe, 50km off the south coast.
The Providence Resources Barryroe well platform

PROVIDENCE Resources says it has found signs of another huge oilfield, this time off the coast of Northern Ireland.

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In a statement this morning, the exploration firm said initial testing of a site at Rathlin off the north coast showed there could be up to 500m barrel of oil recoverable there.

The company said it is planning on a drilling programme for next year and, “given its near-shore location”, it is possible that the prospect could be drilled from an onshore Northern Ireland location.

"We have now commenced planning for a future drilling programme in 2014, which includes necessary site investigations, local permitting requirements, together with regulatory and local stakeholder liaison," said technical director John O'Sullivan.

This is the latest positive announcement from Providence, which said there was over 1bn barrels at its Barryroe discovery off Cork last March, and followed that with a claim there could be nearly 900m barrels at Drombeg in the Atlantic last November.

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