UK-based oil and gas company Europa Oil & Gas scheduled to conduct a site survey at its large, low risk Inishkea prospect located offshore Ireland ahead of an exploration well planned for 2020. In the meantime, there are allegations that the company will partner in the near future.
Specifically, the Inishkea prospect is based in Licensing Option (LO) 16/20 in the Slyne basin in Atlantic Ireland, to which Europa has 100% interest.
The prospect is located to the north west of the producing Corrib gas field in the Corrib Field Petroleum Lease Area.
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Europa’s CEO, Hugh Mackay, stated that their thorough and technical work resulted to the fact that Irishkea has a large, low risk and gas prospect.
The company aspires to proceed to a site survey in summer of 2019, as well as move forward to a well targeting.
Europa’s CEO informed that their ongoing farm-in negotiations with a major international oil and gas company for three of our licences, FEL 1/17, FEL 3/13, and LO 16/20 which holds Inishkea are evolving.
The company reported that it had completed Pre-Stack Depth Migration (PSDM) reprocessing of 770km2 of 3D seismic data over the Inishkea prospect, including the area of the Corrib gas field. In addition, Europa has purchased 1,544 km2 of released 3D seismic data shot over, and immediately adjacent to, the LO area, 5,000 km of regional 2D and 13 wells.
Moreover, the company purchased Ocean Bottom Cable 3D seismic data over the Corrib gas field, which used it to benchmark and calibrate the PSDM data. The seismic data resulted to geophysical interpretation and mapping of the area.
Finally, the company is confident that the project will have low-risk possibilities.
