Europa Oil & Gas has received approval from the Irish government to extend the first phase of its FEL 4/19 license to January 2028.
The company said Ireland’s Department of Climate, Energy and the Environment (DECC) granted consent for the extension, allowing additional time to carry out technical studies and secure a partner for the project.
The FEL 4/19 license contains the Inishkea West gas prospect, estimated at 1.5 trillion cubic feet.
According to the company, it plans to use the extension period to advance technical evaluation and progress the license toward drilling.
“I am delighted that our application has been granted and that we can continue with further technical studies of the license and seeking a project partner. FEL 4/19 contains the large 1.5 TCF, low risk Inishkea West gas prospect which is a strategic asset that can potentially provide a reliable source of low emission energy for Ireland and play a key role in the transition to renewable green power.
“Given the proximity to existing infrastructure, a discovery at Inishkea West could be brought online quickly and would reduce Ireland’s reliance on imported gas. Domestic gas from Inishkea West would have significantly lower carbon emissions than imported gas from the UK, Norway or further afield,” said William Holland, Chief Executive Officer of Europa Oil & Gas.