Europa Oil & Gas reported Thursday that its partner, Kosmos Energy Ireland, has completed a 575-square mile 3D seismic data acquisition program on its FEL 2/13 and FEL 3/13 licenses in the South Porcupine Basin, offshore Ireland.
Europa said that processing of the newly-acquired seismic data has already begun and delivery of the processed data is expected during the first quarter of 2014. The firm said the dataset should enable detailed prospect mapping, with the intention of significantly de-risking the previously-identified prospectivity on both licenses.
Depending upon how the data is interpreted, the partnership believes it should have sufficient technical and commercial information to make a drilling decision during the second half of next year, with drilling taking place in 2015 or 2016 if a go-ahead is given.
Europa CEO Hugh Mackay commented in a company statement:
"The 3D seismic commitment of 740 square kilometers on each license has been fulfilled within just four-and-a-half months of the start date of FEL. This is fast track exploration as we, led by Kosmos, target similar Cretaceous plays in the South Porcupine basin to those that Kosmos successfully pioneered in the Atlantic Margin basins offshore West Africa.
"It is testament to the caliber of the operations teams at both Kosmos and Polarcus that we have successfully completed the seismic acquisition over both licenses, and effectively a year ahead of schedule. Subject to the results of the interpretation of the newly acquired data, we could be in a position to commence well planning in the second half of 2014, as we look to prove up the company-making prospectivity on both our Irish blocks."
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