Europa Oil & Gas secures license extension for gas prospect in Mayo
Europa Oil & Gas (Holdings) plc has received approval from the Department of the Environment, Climate and Communications for an extension of the Phase 1 of the FEL 4/19 license, allowing the company to continue its exploration and development activities in the Erris region until January 31, 2026.
The FEL 4/19 license is of strategic importance, housing the substantial Inishkea West gas prospect, estimated at 1.5 trillion cubic feet. Europa plans to utilise this extension to conduct in-depth technical studies and extend efforts to secure a partner for advancing the development of this significant asset.
Will Holland, the Chief Executive Officer of Europa, expressed his satisfaction at the approval, stating, "I am delighted that our application has been granted, and that we can continue with further technical studies of the licence and seeking a project partner."
The Inishkea West gas prospect is considered a low-risk asset with the potential to provide a reliable source of low-emission energy for Ireland. Europa aims to play a key role in Ireland's transition to renewable green power by reducing the nation's reliance on imported gas.
The proximity of Inishkea West to existing infrastructure is highlighted as a strategic advantage. Europa anticipates that a discovery at Inishkea West could be brought online swiftly, contributing to a reduction in Ireland's dependence on gas imports from the UK, Norway, and other sources. Domestic gas from Inishkea West is expected to have significantly lower carbon emissions compared to imported alternatives.
CEO Will Holland spoke about the positive impact of Inishkea West on Ireland's energy landscape, saying, "Given the proximity to existing infrastructure, a discovery at Inishkea West could be brought online quickly and would reduce Ireland’s reliance on imported gas. Domestic gas from Inishkea West would have significantly lower carbon emissions than imported gas from the UK, Norway, or further afield."