Europa Oil & Gas seeks project partner for extended license offshore Ireland
Europa Oil & Gas (Holdings) PLC received approval from the Department of the Environment, Climate and Communications (DECC) to extend first phase work on frontier exploration license (FEL) 19, Slyne basin, offshore Ireland, to January 2024.
The extension will allow the company to carry out additional technical studies and continue work to secure a development partner.
The license contains the Inishkea gas prospect, a large fault bounded Triassic structure in 400-600 m of water northwest of Corrib gas field. The reservoir is Triassic age Corrib sandstone sourced from the underlying Carboniferous. The trap is provided by a combination of Triassic Uilleann Halite top seal and fault seal. Engineering studies demonstrate strong positive economics for a range of porosity outcomes, including outcomes significantly poorer than Corrib.
Europa’s view of porosity at Inishkea is supported by velocity data from new PSDM data. Given the Company’s confidence in trap and reservoir quality and the nearby producing Corrib gas field, prospect risk is regarded as low based on in-house technical work.
Europa is license operator with 100% interest.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).