Exploration company pushes case for Barryroe oil and gas field

Directors of company say Barryroe could underpin 'Ireland’s economic stability through a turbulent global energy environment'

The directors of a company which aims to reopen exploration at the Barryroe oil and gas field off the Cork coast says the field could play a "vital role in underpinning Ireland’s economic stability through a turbulent global energy environment".

The directors of a company which aims to reopen exploration at the Barryroe oil and gas field off the Cork coast says the field could play a "vital role in underpinning Ireland’s economic stability through a turbulent global energy environment".

In its latest financial results filed this week, Barryroe Transition Energy, formerly known as Barryroe Offshore Energy and Providence Resources, made a loss of €656,201 in 2025, arising from costs and professional fees.

Barryroe Transition Energy is backed by agribusiness giant the Goodman family, and is seeking to restart exploration of the field, which is located in 100m of water, approximately 50km offshore Cork, close to the Kinsale gas fields. 

The company says Barryroe could potentially contain approximately 350 million barrels of recoverable oil and gas. The 2021 Climate Action Bill stops further exploration of fossil fuels to explore and extract gas and oil, and in 2023, then environment minister Eamon Ryan turned down Barryroe's application for a lease to continue drilling operations at the site.

But the company said there is a strong and compelling case to restart exploration. "Ireland is at a critical juncture in its energy transition journey. The 2023 Climate Action Plan acknowledges that oil and gas will remain essential components of the country’s energy supply until at least 2050. Despite ambitious climate targets, Ireland remains heavily reliant on fossil fuels and is one of the most energy import-dependent nations in the EU," the directors of Barryroe Transition Energy said.

"The field presents a strategic opportunity to reinforce Ireland’s energy resilience. By replacing crude oil imports between now and 2050, it would significantly reduce Ireland’s exposure to supply disruptions and price volatility.

"The field offers a stable, domestic energy source that could serve as a ‘backup generator’ during renewable intermittency and provide predictability for national infrastructure planning."

In the report, the directors noted that in 2023, 83% of Ireland's energy came from fossil fuels and 82% of energy was imported, with 100% of crude oil sourced externally. "This import dependency introduces significant risks including supply-side vulnerabilities, limited domestic infrastructure, and exposure to volatile international markets."