DUBLIN, Ireland – Europa Oil & Gas continues negotiations with an unnamed major oil company on three of its licenses offshore Ireland.
The main prospect identified so far is the potential 1.5-tcf Inishkea accumulation in licensing option (LO) 16/20 in the Slyne basin, northwest of the producingCorrib gas field.
Europa plans a site survey over the area this summer and to drill a well next year, subject to securing funding and regulatory consent. The other licenses under discussion are FELs 1/17 and 3/13.
Evaluation of Inishkea to date includespre-stack depth migration (PSDM) reprocessing of 770 sq km (297 sq mi) over the prospect and part of Corrib.
In addition, Europa has purchased 1,544 sq km (596 sq mi) of released 3D seismic data shot over, and immediately adjacent to, the LO area; 5,000 km (3,107 mi) of regional 2D seismic and data from 13 wells; and ocean bottom cable 3D seismic over Corrib which it has used to calibrate the PSDM data and the resulting geophysical interpretation and mapping.
Corrib contains dry gas, recoverable reserves estimated at 1 tcf. The Corrib North structure containing the 18/20-7 gas discovery well drilled by Shell in 2010 is one of the other prospects in LO 16/20.