The decision follows completion of the work program, including a technical assessment which concluded that the prospectivity was limited.
In March 2017 the company farmed out 70% of the LO to a subsidiary of Cairn Energy, with the latter going on to fund a seismic survey, completed the following year.
Europa’s portfolio offshore Ireland now comprises five 100%-owned licenses containing multiple targets identified on seismic data with estimated prospective resources of 5.7 Bboe, in addition to the 1.5 tcf gas assigned to the company’ Inishkea prospect on FEL 4/19 in the Slyne basin off the northwest coast.
Inishkea is close to the 1-tcf, producing Corrib gas field and associated infrastructure.
