Europa Plans for Irish Well in 2019
London-listed explorer Europa Oil & Gas (EOG) said May 24 it is working to make its Inishkea gas prospects near the Shell-operated Corrib field “drill ready.”
It said that 3D seismic reprocessing began March 2018 on Inishkea (licence option 16/20) and should be completed 4Q2018, followed by a drilling decision and location subject to partnering and/or funding.
“Europa is actively investigating the feasibility of drilling what could be a company-making exploration well in 2019 or 2020,” said CEO Hugh Mackay. EOG believes it has 2.5 trillion ft3 of undiscovered low-risk gas initially in place on LO16/20 in relatively shallow water. In contrast, EOG said the Irish government has approved its request to relinquish nearby LO 16/21, also offshore northwest Ireland, effective June 30.
Offshore southern Ireland, EOG said it continues technical work on its four South Porcupine basin licences, with an updated prospect inventory for its FEL 3/13 to be announced this quarter.
Shell is still in the process of divesting its Corrib stake to Canadian pension fund CPPIB and operatorship of the gas field to Canadian firm Vermilion Energy, under a $1.23bn deal announced ten months ago.