Barryroe secures €40m in new funding to proceed to next phase of drilling off Cork coast

Barryroe’s CEO Alan Curran said drilling operations were now likely to commence in 2024, weather permitting

The Barryroe gas field off the coast of Co Cork. Picture: Finbarr O'Rourke

Oil and gas exploration firm Barryroe has secured €40m in new funding from Larry Goodman’s Veven Unlimited to allow it to proceed to the next phase of drilling off the Cork coast.

In an update to the London Stock Exchange this morning, Barryroe said it had received communication from the Department of the Environment that it had not yet supplied sufficient financial details to get awarded the Barryroe Lease Undertaking.