Falklands, an “excellent investment destination” for the oil industry
The Falkland Islands Government has welcomed the news of a farm-in agreement between Falkland Oil and Gas Ltd and US based Noble Energy which was announced on Monday and confirms the Falklands as an “excellent investment destination”.
Noble Energy from Texas are acquiring a 35% stake in FOGL interests in the Falkland Islands under a farm-in deal that will assist in financing the development of FOGL future exploration program.
Director of Mineral Resources for the Falkland Islands Government Stephen Luxton said the government welcomed the entry of Noble Energy as a new partner in Falkland Islands licenses.
“Another significant international energy company has given its vote of confidence to the many interesting opportunities available in the Falklands,” he said adding that: “we look forward to meeting the Noble team in due course and working with the new partnership to progress their licence interests in the South Falkland Basin.”
MLA Jan Cheek said the announcement was another clear indication as to how positively the industry viewed prospects in the Falkland Islands.
“The Falkland Islands are an excellent investment destination, and as with all current and potential partners we look forward to working further with Noble Energy through the development of FOGL prospects”, said MLA Jan Cheek.
FOGL spudded their Loligo exploration well located some 200 km east of the Falklands last Friday. FOGL holds a 75% interest together with joint venture partner Edison from Italy who holds the remaining 25%.
It is the first of a two well exploration program using the Leiv Eiriksson rig with the operation expected to last about 60 days.
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26 comments Feed
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YPF = Hahahaha, what? no chance!
I wish I could afford shares in FOGL right now. :0) Seems like a sure bet.
Also interesting to see the editor's reference to Mercopress.
@6 Are you being witty? I do hope that the authorities are making sure that no funds from corrupt or criminal sources (argie) are being allowed to make money for corrupt and/or criminal parties. Any funds from CFK, associates or proxies should, of course, be seized.
www.ripoffreport.com/hotel/los-sauces-casa-pata/los-sauces-casa-patagonica-hot-4b187.htm
www.ripoffreport.com/plastic-surgeons/argentina-plastic-su/argentina-plastic-surgery-da-50cdb.htm
www.ripoffreport.com/argentina-afip-agenc/federal-government/argentina-afip-agencia-federal-f204d.htm
Spread the word about this banana republic so called “government”!!
No, it's not 'I don't Think', aka The Turnip in Chief's hammer.
It's his 1955ish French designed watch, hacked by the Russkies into a Navigators watch (to stop the movement for synchronising) that he SAYS has run without ANY servicing on perfect time (TWICE A DAY) that sets me off laughing. :o)
It's a while since I've looked on the website but I thought the front page of the paper was free to anyone who wished to see it. Only the inside pages require a subscription. As for making it free to anybody: I don't agree. It's not a government paper. It's not a tool of FIG to use for spreading its message.
There is something missing from this thread of posts. Something that usually goes like this:
TWIMC
You say: (insert any sensible point here)
I say: (insert any crap here)
Chuckle chuckle
India decide not to join the party, though France, Italy and the USA (as well as UK) have.
I'd laugh heartily if Repsol invested.
The plain facts are not down to politics but that Falkland Islands business acumen attracts investors.
Their involvement with countries around the world via fishing and oil has made the Falkland Islands a straightforward country to do business with.
Another rung in the ladder of success.
Go Falklands!
Argentina's stance on negotiating with the USA in 1982 backfired, as every time an agreement was made, the Argentines tore it up, as Haig & co stepped on the plane. They treated the USA with contempt and paid the cost.
Junta-less Argentinas dictorial/lecturing stance is the same as the junta, without shiny uniforms and blary trumpets, especially at the UN. It recieves polite nods but behind the scenes, many disgruntled countries willl stab Argentina in the back.
Agreed. Many South American countries were glad Argentina got their arse handed to them in 1982, and would be quite happy for it to happen again.
They may speak of South American solidarity, but behind closed doors they are happy that Argentina is making a fool of itself.
How many times has CFKs so called 'friends' actually supported her with more than just a few empty words?
I believe Antonio Brufau, CEO of Repsol, has stated that if Repsol gets the 10.5 billion dollars from Argentina for the “Nationalization”, he would put it all into Falklands oil exploration and production!!!!!
I half speculated in jest but it's interesting you say that.
It would serve CFK right. Spain investing in the oil around the Falklands would send a strong signal to CFK that her alternating 'I love them/I love them not' approach to her 'friends' and 'allies' is not working.
@20
It would but CFK's threats to the oil industry have failed to stop investment in the Falkland Islands because FIG is a stable business partner and Argentina an unreliable one.
Let's all hope for a future Argentinian president who is business-like, and pragmatic rather than neurotic and self harming, for Argentina's sake.
The Falkland Islands will progress regardless with their reliable, trustworthy, stable businesslike government, whether Argentina cooperate or not.
What has how and when Cameron invades Argentina got to do with you?
Oh oh! Of course, you are the traitor and want British capitulation to your queen, The Mad Bitch Of Argentina.
Dream on you crazy turd.
Yes, I know it should be diamond, but that does not fit what you are does it?
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