Exploration firm claims ‘significant’ oil deposits off the coast of Dublin

OIL deposits just 10 kilometres off the coast of Dublin have the potential to provide our entire oil needs for up to 12 years, according to a survey by Irish exploration company Providence Resources.

Providence’s latest analysis suggests the Kish Bank Basin, known as the Dalkey Island exploration prospect, could contain 870 million barrels of oil. Ireland currently consumes 200,000 barrels of oil per day.

Providence’s partner Exxon is due to begin drilling for natural gas at its Dunquin field 200km off Ireland’s west coast next year.