Waters directly underneath the 1,500m-deep Kinsale Gas Field, in the Celtic Sea, could contain nearly 2.4 billion barrels of oil, according to latest estimates.

Irish onshore and offshore oil and gas reserves could be worth more than €2tn, writes John Hearne

Providence Resources has been offered a two-year licensing option on an area of the Celtic Sea, which could ultimately increase the total size of its Barryroe find.