A gusher of Cork crude
No, the headline does not refer to a foul-mouthed comedian from the banks of the Lee, but rather a gusher of crude oil just confirmed off the Cork coast.
The exploration company, Providence Resources, has struck oil and early indications are that this is the first commercial well off the Irish coast.
Providence said flows in Barryroe, 50 kilometers from the West Cork coast, were almost double the 1,800 barrels of oil per day (bopd) barrier set by the firm as being commercial. Tests are also being carried out on gas flow rates in the area.
Tony O’Reilly Jr., chief executive of Providence, said flow rates of 3,514 bopd have been discovered at a 100-meter depth in the North Celtic Sea Basin,” the Irish Independent reported.
“The well has also confirmed that the basal sands are laterally continuous, highly productive and that the oils are of a very high quality,” he said.
O’Reilly is the son of former Heinz CEO and Independent Newspaper publisher, Sir Anthony O’Reilly.
This is the fifth time oil has been hit during explorations of the Barryroe licensing block, but the other wells fell below the commercialization target when examined in the 1970s and 1990.
Tests will continue at other sites off Wexford, Dublin, Shannon, Kerry and Northern Ireland over the next two years, O’Reilly said.
“Barryroe was “the pathfinder project” for the Celtic Sea, he said.
“It’s important for itself, but it also helps raise the stakes in terms of other opportunities in the Celtic Sea.”
O’Reilly said he hopes the discovery will lead to the creation of an onshore oil industry in Ireland.
Providence holds an 80 percent interest in the license and operates it on behalf of its partners, San Leon Energy and Lansdowne Oil and Gas, the Independent report stated.
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