Barryroe

Barryroe
Country Ireland
Region Celtic Sea
Offshore/onshore Offshore
Partners Providence 80% Lansdowne 20%
Field history
Discovery 1981
Start of development never
Start of production never
Production
Estimated oil in place 1,000 - 1,600 million barrels (~−220,000,000 t)
Recoverable oil 311 million barrels (~4.24×10^7 t)
Recoverable gas 207×10^9 cu ft (5.9×10^9 m3)

Barryroe is an oil and gas field discovered in the Celtic Sea due south of Cork. 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.

The well is currently 80% owned by Providence Resources and 20% by Lansdowne Oil & Gas. Providence intend to reduce this holding by inviting a major international firm to exploit this discovery.

Initial flow rates suggest 3,500 barrels per day (560 m3/d) of high quality crude, nearly twice the commercial target set by the firm. This has been revised as high as 20,000 barrels per day (3,200 m3/d), along with 1,350 barrels per day (215 m3/d) oil equivalent of natural gas.

Providence revised up the estimated reserve in place to between 1 and 1.6 billion barrels (160×10^6 and 250×10^6 m3) in July 2012.[6] Analysts predict there are at least 160 million barrels of recoverable oil in place.[7] The estimate recoverable amount of oils was again revised in October 2012 to 280 million barrels.[8] In April 2013 an independent audit revised the recoverable total up to 311 million barrels (49.4×10^6 m3) barrels of oil, and 207 billion cubic feet (5.9 billion cubic metres) of gas.[9] This gives a total of 346 million barrels (55.0×10^6 m3) of oil equivalent.

References

  1. ↑ Keane, Conor (2012-03-16). "Barryroe oil output could hit as much as 20,000 barrels a day". Irish Examiner. Retrieved 2012-08-08.
  2. ↑ Keane, Conor (2012-03-15). "Oil-drilling success sends Providence shares up 11%". Irish Examiner. Retrieved 2012-08-08.
  3. ↑ Percival, Geoff (2012-03-24). "Providence strikes gas off Cork". Irish Examiner. Retrieved 2012-08-08.
  4. ↑ Percival, Geoff (2012-06-27). "Providence may sell 40% of oil field this year". Irish Examiner. Retrieved 2012-08-08.
  5. ↑ "Providence Resources: Barryroe oil in place resource update". OilVoice. 2012-07-25. Retrieved 2012-08-08.
  6. ↑ Email Us (2012-07-25). "Providence upgrades Cork oil find - The Irish Times - Wed, Jul 25, 2012". The Irish Times. Retrieved 2012-08-08.
  7. ↑ "UPDATE 1-Providence Resources hikes oil estimates at Barryroe project". Reuters. 2012-07-25. Retrieved 2012-08-08.
  8. ↑ "Providence shares gain on Barryroe". The Irish Times. 2012-10-10. Retrieved 5 July 2013.
  9. ↑ "Audit confirms Barryroe has 346m barrels". Fxcentre.com. 5 April 2013. Retrieved 5 July 2013.

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