Europa’s objective is to create shareholder value by building a balanced portfolio of exploration, appraisal and production assets in West Africa, the UK and Atlantic Ireland, with minimal emissions.
Gas remains central to Europa’s strategy. It is a transition fuel that offers a pragmatic pathway to energy security, emissions reduction, and economic resilience.
In Equatorial Guinea, we are confident of unlocking the pathway to drilling the Barracuda prospect in 2026.
In offshore Ireland we continue to market Inishkea West to potential partners, hopeful that the project’s compelling technical qualities, strong economic case, strategic location, and low-carbon credentials will result in securing a partner to drill the prospect.
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.
The Cloughton appraisal project continues to move forward, with planning having been submitted and community engagement ongoing.
At Wressle, the development programme is progressing, with preparations for new wells and a gas monetisation solution that will enhance production and eliminate flaring.
We are also assessing opportunities to improve performance at existing UK onshore sites which we operate, whilst maintaining a disciplined approach to cost management and capital allocation.