Europa to focus on Irish oil prospects

British exploration firm Europa Oil and Gas is to focus on adding prospects in Irish waters as part of its expansion, its management stated yesterday.

As part of its full-yearfinancial results presentation, Europa said that while a discovery at one of its UK assets would result in a significant increase in its production-generated revenues, “our offshore Ireland and onshore France licences are the potential company-makers in our portfolio, due to the size of the prospectivity identified.”

Chief executive, Hugh Mackay said that the next six months will be “very exciting” for the company, with drilling activity planned for its UK portfolio and a new prospect inventory, due from its development partner, US explorer Kosmos Energy, regarding its prospects off the Co Kerry coast in the south Porcupine Basin.