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Montevideo, November 17th 2018 - 23:35 UTC

Falklands oil explorers Rockhopper Exploration and FOGL completed merger

Tuesday, January 19th 2016 - 08:06 UTC
Full article 3 comments
The approval of a court in London came after a January 5 vote by FOGL shareholders in favour of the all-share merger with Rockhopper. The approval of a court in London came after a January 5 vote by FOGL shareholders in favour of the all-share merger with Rockhopper.
News comes a week after the confirmation by another UK firm, Premier Oil, of an oil find at the Isobel Deep well off the Falklands. News comes a week after the confirmation by another UK firm, Premier Oil, of an oil find at the Isobel Deep well off the Falklands.

Two leading firms in Falkland Islands offshore oil exploration have completed their merger, it was announced on Monday.

 The UK-based companies, Falkland Oil and Gas (FOGL) and Rockhopper Exploration, had needed only the approval of a court in London after a January 5 vote by FOGL shareholders in favour of the all-share merger with Rockhopper. The court approval came on Friday and the merger became official on Monday.

The news comes a week after the confirmation by another UK firm, Premier Oil, of an oil find at the Isobel Deep well off the Falklands. FOGL and Rockhopper are co-stakeholders with Premier in that well.

Argentina has objected to the offshore development by British, US and French firms because it claims the Islands and surrounding waters. The Islands are a British Overseas Territory and in March 2013 held a referendum on their future in which the Islanders overwhelmingly supported remaining under British sovereignty.

Top Comments

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  • marasilver

    I wonder the environmental implicances that this might have in case of an oil spill.

    Jan 19th, 2016 - 08:14 pm 0
  • golfcronie

    If there is an oil spill it will benefit Argentina as they will have to clear up the coast and all the shit that is pumped into the sea without being treated.

    Jan 20th, 2016 - 11:50 am 0
  • Marti Llazo

    @1 “I wonder the environmental implicances that this might have in case of an oil spill.”

    “ implicances ” ??

    Same as the implicances anywhere else in the world.

    Jan 20th, 2016 - 05:28 pm 0
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