Europa Oil & Gas (Holdings) is exiting the Inezgane license off the coast of Morocco.
Despite having identified numerous exploration potentials, Europa has chosen not to move on to the first extension period now that the license’s initial extension period has finished.
According to Simon Oddie, CEO of Europa, “Moving to the next stage would have required Europa to commit to drilling an exploration well, which we could not justify without getting another partner.”
“We have been working hard with consultants to find a farm-in partner, but the market appetite for offshore deep-water oil exploration is now very low, and we have unfortunately been unsuccessful.”
