Europa Oil & Gas Holdings Plc highlighted milestones achieved during the past year across its portfolio, including the key ramp up of production at the Wressle field.
Achievements such as the delivery of Wressle as a 500 barrel per day operation have laid the foundations for an exciting new phase in the company’s growth trajectory, said chief executive Simon Oddie.
At 500 bopd, Europa’s share of production is around 200 bopd, and more recently it has performed ahead of expectations. In September, Wressle yielded an increased rate of around 950 boepd.
“Wressle is showing capacity to produce at significantly higher rates than the previous target and further major development potential exists in other reservoirs,” Oddie said in Thursday’s annual results statement.