A significant discovery of oil has been made off of the south east coast of Ireland, according to an Irish company at the head of a business consortium exploring the area.

Irish company Providence Resources says test drilling has revealed an oil accumulation 60km off of Hook Head in the North Celtic Sea Basin.

The company says good quality oil has been found in the area where it is drilling and tests have been carried out up to 1524m under the sea bed.

However a full testing programme has not been carried out because of problems under the sea bed at the drilling location.