Europa Oil & Gas

Environmental

Europa Oil and Gas is an AIM listed oil and gas company which is building a balanced portfolio of producing, appraisal and exploration assets with minimal emissions whilst also looking to repurpose legacy UK wells for Geothermal energy generation.
The Causeway GT MOU was signed in June 2021. The collaboration will explore the following projects.
Utilising existing infrastructure and wells for geothermal applications at West Firsby to deliver clean, reliable, and cheap sources of heat.
Studies will determine if commercial deployment of geothermal technologies are viable at the site.
Whether there is potential to convert onshore legacy oilfields into sources of clean and reliable energy forms as part of Europa’s ESG strategy and the Company’s stated desire to participate in the national energy transition
Successful project will deliver long term benefits to Europa shareholders, the UK’s national energy grid and the local community in the West Firsby area.

Europa is committed to working towards the UK’s and Global target of Net Zero by 2050. This drives our strategic thinking and operating philosophy
Annual Sustainability Report that details Scope 1, 2 and 3 emissions including internal targets to reduce these emissions will be published annually.

In 2019 the UK net import figure was 500 million barrels of oil equivalent (boe).
The Committee on Climate Change forecast that UK oil and gas demand in 2050 would be 400 million boe.
Delivering a low-carbon future will be achieved by protecting infrastructure already present in the UK Continental Shelf through continued production and development activity.
Reducing UK imports allows greater accountability and transparency of emissions and so accelerate net-zero.
The UN has forecast a global oil supply gap during transition to net zero and finding additional domestic reserves is essential to reduce UK imports and global emissions.

https://www.ogauthority.co.uk/media/7623/exploration-in-a-low-carbon-future_oct-2020.pdf