Falklands’ Desire Petroleum plans for the next three years
Planning ahead for the next three years Falkland Islands Desire Petroleum announced on Wednesday changes to its Production Licences following approval received from Executive Council.
Desire’s Production Licences (PL003, PL004 and PL005) will be grouped together with collective requirements for all three licences. These licences contain the successful Sea Lion extension and all other oil and gas discoveries.
According to an official release from the company, the existing work commitments under Phase 2 of the licence period have been confirmed as satisfied and the Phase 2 licence period has been extended to May 2016 with an additional one well work commitment during this period.
Furthermore no relinquishment is required while this licence group remains in Phase 2. Normal relinquishment provisions will apply should the Licence Group move into Phase 3. Likewise acreage rentals will remain at current levels of 60 US dollars per km2 for the duration of Phase 2.
The release also points out that Desire Petroleum has relinquished production licences PL006 and PL007. “A mature source rock is unproven in this area, and the only significant prospectivity in the licence areas was tested by the 25/5-1 well which encountered only gas shows”.
Desire Petroleum CEO Stephen Phipps thanked the Falklands’ government for the review and reaffirmed its commitment to continue exploring in the North Falkland basin.
“We are extremely pleased with the changes to our licences, and thank the Falkland Island Government for their understanding in agreeing our revised licence terms. Desire now has over three years in which to further explore its highly prospective key licence areas in the northern part of this basis”, said CEO Phipps.
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21 comments Feed
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the envy of CFK who had a chance, and blew it.
self defeating is it not.
Suck it up, Argentina! LOL LOL LOL LOL♥
Argnetina had the chance to share the oil wealth and they even managed to blow that opportunity.
There is no insentive for the Falklands to negotiate with Argentina over the oil any more. It can be done without them and the world and technology has moved on. I guess Nestor assumed it would end oil related activity and didn't factor that in when he ripped up the agreements.
A decision that will cost you billions for what gain?
and that would mean recognition of The Falkland government by argentina
who refuse to talk to the islands government, hence theirs your answer no negotiations.
any negotiations would be mainly benefitting argentina more anyway, no thanks, its our party and your not invited.
The Falklands does not need argentina, have you not heard the plans for the deep seaport project completely bypassing argentina totally, argentina had its chance and blew it massively,nasty habit they have there, and now they have NOTHING thats what DEMANDS do!
You want negotiations stick with the iranians, neither regime can be trusted!
SELF-DETERMINATION!! negotiate that!
Oh, you were having a dream of negotiations between argieland and the UK. Let's put it this way. The word is that you're Scottish. “King Alex” has made statements about “sliding” into the EU without negotiations and retaining all UK rights, about retaining the pound sterling, about “taking control” of oil and gas fields, about acquiring ready-made defence forces, about “independence dividends”. They've all turned out to be lies.
It's the same with UK/argie negotiations about Falklands sovereignty. Can't happen. Won't happen. Argieland will be proved to be impotent. Again. As Scotland slides into obscurity and poverty, so will argieland. Will Salmond be yapping “It's not fair.” like CFK does?
plans, plans, plans....keep dreaming...hahaha
I said ....black shit....keep dreaming you big arse
lol
Grow up, sod of, and take your smelly crude uneducated immigrant backside elsewhere,
Twit.
No chance.
If the tensions grow, Argentina shall lose badly. Argentina is weak. The Falkland Islanders and Great Britain are strong.
Fact.
who ? what? where? when? why?
Will they be manual, automatic , or battery operated..
?
18 we dont owe 2 trillion, but you owe more than fifty quid lol.
“The reactivation of a few missiles”
You mean the string launched ones?
Why don't you just say Argentina is dusting off its store of bows and arrows?
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