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Europa Oil & Gas comments on Irish Government's intention to phase out oil exploration licences

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Oilfield Technology,

Europa Oil & Gas (Holdings) plc has noted the statement released yesterday by the Irish Offshore Operators’ Association (IOOA), which includes clarification received from the Government of Ireland that existing exploration licences will be unaffected by the announcement by An Taoiseach Leo Varadkar on 23 September 2019.

This set out the Irish Government’s intention to phase out oil exploration licences in the future. The Government has confirmed that its proposals ‘will relate to future applications’ and that ‘existing licences will remain valid’.

Europa's CEO, Hugh Mackay, said: “We welcome the clarification provided by the Irish Government that existing offshore Ireland licences remain valid. Europa has a large exploration position in Ireland, which includes our flagship Inishkea gas prospect that lies on the same play as, and is located close to, the producing Corrib gas field. With this in mind, we look forward to continuing to work closely both with the Irish Government and the IOOA.”

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Upstream news Exploration news Upstream project news Oil & gas news