Falklands’ oil explorer Desire Petroleum Plc (AIM:DES) will be making presentations this week at the North American Prospect Expo (NAPE) in Houston.
The Argentine newspaper Ambito Financiero reported on Friday, without revealing sources, that oil exploration rig Leiv Eiriksson, contracted by two oil companies to drill to the south of the Falkland Islands “was found, on Thursday, exploring in Argentine waters”, according to ‘irrefutable’ satellite images.
A leading UK market and investment analyst, Edison Investment Research looks at the prospects of the Falkland Islands oil industry and suggests the industry could be worth 180 billion dollars in royalties and taxes.
Argentina’s largest energy company YPF, dropped the most in the Buenos Aires Stock Exchange’s leading share index on Wednesday after the federal tax agency banned it from importing and exporting because of an unpaid tax bill.
In the midst of the diplomatic escalation between Argentina and the UK over the Malvinas dispute and the coming 30th anniversary of the Falklands conflict, a red ensign Liquefied Natural Gas Carrier (LNGC) docked in Argentina.
Argentina’s Energy Institute, IAE, warned that the country faces an “unprecedented energy crisis” with strong drops in hydrocarbons reserves, production and the loss of self sufficiency.
Uruguay’s hydrocarbons refining company Ancap signed on Tuesday an agreement with US company Schuepbach Energy to begin exploration for oil and gas in the north and centre of the country.
The Buenos Aires media revealed late Tuesday that Antonio Brufau, CEO from Repsol-YPF, which has a dominating position in the oil and gas market in Argentina met with top officials from the President Cristina Fernandez administration.
A consortium of companies appears to be spending a large day-rate on an Ocean Rig unit which has been fixed for a firm three years off Norway. The semi-submersible Leiv Eiriksson, currently operating in Falklands waters has been wrapped up for a 15-well program over a minimum of 1070 days on the Norwegian Continental Shelf, Greek rig owner Ocean Rig said on Monday.
Vice President Amado Boudou brushed aside ‘Repsol-YPF nationalization rumours’ and said Argentina is interested in oil companies that make long term investments and don’t fall prey of short term financial profits.