The developers of a giant oil field off the Irish coast have been given the go-ahead to look for resources across a wider area after having their licence extended.
The Irish government has approved a wider extension to the Barryroe licence, operated by Providence, which is thought to contain up to 350million barrels of oil.
Talks have been ongoing over farming out the field, but the operation has been given a further boost after Ireland’s department of energy approved an increase to extend the licence by a further 180 square kilometres.
“The granting of an increase in the areal extent of SEL 1/11 recognizes the potential significant volumetric upside that exists at Barryroe,” said Providence technical director John O’Sullivan.
“The structural closure as mapped now appears to extend further to the south and south-east. However no wells have been drilled as yet to confirm any such extensions to the field area.”
Earlier this year Providence and partners Lansdowne Oil and Gas hit out at Irish media reports they could not afford to carry out drilling on a new appraisal well this year.
