UK oil firm Europa Oil and Gas declares 4bn barrels in Irish waters

UK exploration firm Europa Oil and Gas is sitting on an estimated four billion barrels of oil equivalent and 1.5 trillion cubic feet of gas in Irish waters.

The company last week landed another four licensing options across three basins in the final tranche of awards from the Government’s recent Atlantic Margin Licensing Round — bringing to seven the total number of licences it holds in Irish waters.

The company said, last week, that it was hopeful of securing a development partner for its most established licences before the end of the year.