Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

'Gold coast' the target of new hunt for oil

Exploration company says that up to 870 million barrels of oil could be just 10km off the Dublin coast.

EXPLORATION COMPANY PROVIDENCE Resources say that there could be an oil field off the coast of the Dublin suburb of Dalkey.

The oil field could yield up to 870 million barrels of oil, say Providence, who have been searching for oil in the UK and Ireland for 13 years.

Providence holds a 50 percent stake in the Kish Bank Basin- 10km off the Dalkey coast, with the other half owned by Malaysian-owned firm Petronas.

Shares in Providence rose 33 percent on the Dublin Stock Exchange yesterday, reports the Irish Independent. Davy Stockbrokers say that “While considerable risk remains, the prize is large”.

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Close
JournalTv
News in 60 seconds