Displaying items by tag: Providence Resourcs

5th September 2012

Barryroe Oil Field May Hold Further Resources Says Study

#COASTAL NOTES - The Barryroe field off the south coast of Cork may deliver even more oil than previously anticipated, according to the latest surveys.

The Irish Times reports that Providence Resources has completed an evaluation of its Celtic Sea prospect which indicates that the Lower Wealden and Purbeckian areas could hold an "encouraging" yield of 778 million barrels.

The oil firm's tectnical director told the paper that the focus would remain on the Middle and Basal Wealden sands following its appraisal wells drilled over the spring and summer.

As previously reported on Afloat.ie, seismic data and results from six test wells on the Barryroe site led experts to estimate that the oil field contains as much as 1.6 billion barrels in total - four times as much as previous projections.

The oil flow is expected to be worth billions of euro to the Irish economy over a number of years.

The latest news "further reinforces the prospectivity of the area" according to Davy Stockbrokers, who added that "it also suggests that Barryroe will not be the only development of Purbeckian oil in the Celtic Sea".

Published in Coastal Notes

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About World Ocean Day

World Ocean Day is celebrated annually on June 8th to highlight the important role the ocean has for our life and the planet. The focus each year is on the 30x30 campaign: to create a healthy ocean with abundant wildlife and to stabilise the climate, it is critical that 30% of our planet’s lands, waters, and oceans are protected by 2030.

One of the issues affecting our ocean is marine litter which has become a global problem for both humans and marine life. However, communities around Ireland have demonstrated their desire to be part of the solution by taking part in several beach cleaning and clean-up calls to action.

Statistics show that the number one cause of marine litter is litter dropped in towns and cities.

In 2021, the initiative changed its name from “World Oceans Day” to “World Ocean Day”. By dropping the “s”, its organisers wanted to highlight the fact that we are all connected by a large ocean. This shared ocean supports all life on the planet, by producing most of the oxygen we breathe and regulating climate. No matter where we live, we all depend on the ocean to survive.

This means that each piece of marine litter removed from a beach, river, lake, park or street in Ireland, will have a positive impact on a global scale.