Europa Oil Gets Planning Consent for Wressle Extension Project in UK
Europa Oil & Gas (Holdings) PLC said Monday it had received planning permission to drill two additional wells and build associated infrastructure under an extension project in the Wressle field.
“The development program at Wressle will increase the oil production and monetize the associated gas from the field, which will result in zero routine flaring at site”, chief executive Will Holland said in a company statement, highlighting that the new project would boost domestic supply.
“Domestic production accounts for less than 50 percent of demand in the UK, yet this provides economic and environmental benefits when compared to imports”, Holland said.
“The UK is increasingly reliant on imports as domestic production continues to decline and I believe that domestic production has a vital role to play in the UK as we progress towards the Net Zero 2050 target”.
The extension project involves the construction of natural gas processing facilities and an underground pipeline to connect the onshore field to the local distribution network. The extension project is expected to start production 2025, according to an earlier company statement.
London-based Europa earlier increased the estimate of Wressle’s proven and probable reserves (2P) by 263 percent to 2.37 billion barrels of oil equivalent (boe). That was in comparison to an assessment in 2016, which put 2P resources at 655 million boe.
Wressle, operated by Egdon Resources UK Ltd. with a 30 percent stake, spans Petroleum Exploration and Development License (PEDL) 180 and PEDL 182. Europa holds a 30 percent interest while Union Jack Oil PLC has the remaining 40 percent. The consortium received the government approval for the development plan 2022.
The field has three productive horizons: Ashover Grit, Penistone Flags and Wingfield Flags. In Europa’s update for resources estimates published January 2, the combined 2P reserves of Ashover Grit and Wingfield were revised down to 490 MMboe from 655 MMboe in 2016. Penistone, meanwhile, saw 1.88 billion boe reclassified as 2P reserves from contingent resources.
Another asset under PEDL 180, the Broughton North oil and gas prospect, was assessed to hold unrisked best estimate resources of 608 MMboe, up from 494 MMboe in 2016. Broughton North borders Wressle in the northwest across a northeast-southwest trending fault, according to Europa.
The 2016 and 2023 assessments were conducted by ERC Equipoise Ltd. (ERCE).
In the first half of 2024 Wressle contributed 88 barrels of oil per day to Europa’s production, down 57 percent due to a shutdown for a jet pump installation, according to the company’s financial report April 17. Wressle had just resumed production late last year after a shutdown for a jet pump installation, as announced by the company November 8, 2023.
Europa said in a financial update January 15, 2024, that Wressle’s output had fallen to 665 bpd on average, after rising to 950 bpd post-installation.
Europa said at the time slow progress in the extension project dragged down revenues.
Europa also owns exploration and production interests in Ireland and Equatorial Guinea.
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