Europa ups resource estimate for offshore Ireland licence

Europa Oil & Gas has almost doubled its estimate of prospective resources on its FEL 3/13 licence in the South Porcupine basin offshore western Ireland to 2.9 Bboe.

This follows Down Under Geosolutions (DUG)’s completion of pre-stack depth migration (PSDM) reprocessing of 3D seismic data originally acquired over the area during 2013.

The resources are spread among the Beckett, Shaw, and Wilde prospects. The first two have been mapped as much thicker and extending over a much wider, while Wilde has been more sharply defined based on seismic detail on the internal architecture of the fan sequence.

Hugh Mackay, Europa’s CEO, said: “Confidence in, and definition of, the Wilde prospect has increased significantly, whilst our new understanding of the size and thickness of the Beckett-Shaw fan-system has had a transformative effect on estimated volumes.

“Wilde remains the lowest-risk prospect from both source and seal viewpoints. We are also confident that a drill location on Wilde will be optimised which would also test the larger volumes we have identified on Beckett.”

The company plans to initiate a farm-out process for the concession after similar reprocessed data studies of its other Porcupine basin licences (FEL 2/13 and FEL 1/17).

Prospective resources in FEL 3/13 are tabulated below

TGS is currently processing new 3D seismic acquired last year over the Cairn Energy-operated LO 16/19 on the west flank of the South Porcupine basin (Europa 30%), while DUG is also performing the LO 16/20 PSDM 3D seismic reprocessing over the company’s flagship Inishkea gas prospects in the Slyne basin off north-west Ireland near the Corrib gas field.

Source: Offshore Magazine