Europa Oil & Gas: Farmout Launch of Inezgane Permit, Morocco

Europa Oil & Gas, based in the United Kingdom, has announced its intention to seek investment to carry out an amodiation on its exploration permit for Inezgane, off the coast of Morocco, particularly in the Agadir basin.
According to Ecofin, the company recalled that this permit, in which it has a 75 percent stake alongside the National Board of Hydrocarbons and Mines (25 percent), “shares the same reservoirs and source rocks as the major oil and gas discoveries off West Africa.”
It was reported that the 11,228-square-kilometer license was granted in September 2019. Europa Oil & Gas has already identified thirty potential hydrocarbon carriers. The company recently reported finding significant resources “only in the top five wells.”
“We are pleased to announce the launch of the Farmout initiative of the Inezgane Licence which represents not only a high-impact exploration opportunity for Europa but also sits comfortably within the Company’s strategy of creating a balanced portfolio of complementary assets” said the company’s CEO, Simon Oddie.