LO 16/20


Licence LO 16/20
Europa interest 100% operator
Partners -
Area km2 945
Basin Slyne
Play Triassic sandstone (gas)
Term 2 year Licensing Option

LO 16/20 is located in the Greater Corrib area of the Slyne basin.  Unlike licences in the Porcupine, LO 16/20 represents exploration in a proven play which is in the vicinity of the producing Corrib gas field where substantial gas infrastructure is already in place. The Greater Corrib play comprises Triassic sandstone reservoirs in tilted fault block structures with hydrocarbons generated from Carboniferous source rocks. The licence is partially covered by historic 3D seismic data, as well as extensive 2D seismic. Water depths range from 300 to 2,000 metres.

Europa has mapped a number of significant structures at LO 16/20 which are potentially gas bearing and the Board believes that these could contain in excess of 2.5 trillion cubic feet (tcf) of gas in place combined. Work is in progress to estimate the prospective resources arising from this gas in place and these are anticipated to be significantly more than the 1 tcf prospective resources (1.4 tcf gas in place) previously mapped on the licence.

Europa is currently focused on maturing the leads on the licence to drillable prospect status by reprocessing the historic 3D seismic and securing a farm-in partner with which to drill a low-cost, low-risk exploration well.

Were any of these leads and prospects to be matured to drillable status, it is expected that the geological chance of success would be high, drill costs low (reflecting the comparatively shallow water depth) while the proximity to gas infrastructure is potentially another highly favourable factor. For example, prospect TR1 in LO 16/20 lies 16km to the northwest of Corrib in water depths of 500 metres.