The French authorities said Europa will land the Tarbes-Val d'Adour permit. The asset lies in the oil-prone part of the basin, adjacent to the pro-ducing Castera-Lou and Lagrave fields.
The licence also contains the Jacque and Osmets oilfields, which produced light oil until 1986 when the oil price fell to around $10 per barrel and the fields were shut-in.
The initial flow rate from wells on these fields was up to 700 barrels per day, said Europa, which aims to redevelop the reserves.
Europa
