Offshore staff
DUBLIN, Ireland – Europa Oil & Gas is hoping for sign-off shortly from Ireland’s authorities of a license transfer off the country’s northwest coast.
In June the company agreed to acquire a 100% interest in frontier exploration license (FEL) 3/19 from DNO, which includes the 1.2-tcf Edge prospect.
Europa has full ownership of the adjacent FEL 4/19, containing the 1.5-tcf Inishkea, and both are close to Corrib, currently Ireland’s sole offshore gas-producing field.
DNO gained FEL3/19 – formerly the LO16/23 block – following its takeover of Faroe Petroleum.
Europa has also decided to pare back its involvement on other areas of the Irish Atlantic Margin where the prime target is oil, following the government’s declared intention in September 2019 to phase out oil (but not gas) exploration.
In line with these developments, the company recently announced it would relinquish four licenses in the South Porcupine basin off southwest Ireland where the chief target was oil, although FEL 1/17 remains pending an evaluation of gas potential.
Assuming approval for FEL 319, Europa plans a farm-out process for both licenses. At the same time, it is progressing the site survey process for a drilling location at Inishkea.
In Morocco, the company has a 75% operated stake in the Inezgane Offshore license, and its present focus is on the Lower Cretaceous fan sand play.
To date it has mapped 14 prospects, all with prospective resources of more than 150 MMboe. They include Falcon (827 MMboe) and Turtle (204 MMboe).
In addition, shallow gas anomalies have come to light on seismic data, indicating potential for a working petroleum system in the basin.
10/13/2020
