Europa’s objective is to create shareholder value by building a balanced portfolio of exploration, appraisal and production assets in the UK and Atlantic Ireland with minimal emissions. The UK Government recognises that delivering a low-carbon future will be achieved by protecting infrastructure already present in the UK and empowering companies to be good custodians of hydrocarbons as the world transitions to renewable energy sources. With a focus on domestic supply with minimal emissions we will continue to evaluate and acquire quality UK and North Sea assets wherever they become available provided that these can be acquired and developed on acceptable commercial terms and within the transition context.
In 2021 Europa entered into a Memorandum of Understanding with Causeway Geothermal to assess the potential of the West Firsby oilfield as a geothermal test and commercial deployment project, representing Europa’s first foray into renewables.