Following the completion of four new technical studies in early 2022, including a Competent Persons Report (CPR) prepared by RPS Energy Consultants Limited, the Board of Barryroe Offshore Energy is confident that there is an attractive economic and technical case for moving forward with plans to optimise the value of the Barryroe Field.

Barryroe Offshore Energy supports Government and EU policy in relation to tackling the challenges of climate change. Ireland’s commitment to achieving net-zero carbon emissions by 2050 cannot be achieved without transition planning. Successful development of the Barryroe Field, in conjunction with industry and government, can contribute significantly to energy transition en route to a carbon neutral economy in Ireland.

Barryroe Offshore Energy understands that any potential development and production activities at the Barryroe Field would need to be carried out in a manner which seeks to minimise emissions of greenhouse gases.      

Barryroe Offshore Energy is committed to achieving this throughout the lifetime of any such project. Oil and gas are expected to remain part of the Irish and global energy mix to some degree for at least 30 years.  The characteristics of any oil extracted from the Barryroe Field (light / sweet) will make for a less detrimental impact on the environment than may be the case for other, foreign sources of oil production.

The Barryroe Field has the potential to provide significant strategic and fiscal value to Ireland, assisting Ireland’s secure transition to a carbon neutral economy.

Barryroe Offshore Energy is also confident that development of the Barryroe Field will have the potential to create substantial employment opportunities, as well as attracting investment in the local economy.