The Tension Leg Platform option is the most suitable technical and commercial solution for the development of the Falklands' Sea Lion field, according to the recommendation from field operator Premier Oil, said Rockhopper Exploration in an official release, which also announced further drilling is expected in the next twelve months.
UK independent Premier Oil reported Thursday that its production rate peaked at 75,000 barrels of oil equivalent per day during December, when the average rate was 69,000 boepd. Premier said that average production for 2013 as a whole was 58,200 boepd, compared to an average rate of 57,700 boepd for 2012.
A major open pit mining project in Uruguay to extract and export magnetite (a kind of iron ore) and which the government of President Jose Mujica plans to instrument this month has been exposed to a battery of criticism because the administration refuses to show the terms of the contract and farm groups argue there is no final environment impact assessment study.
The process of selling Pesca Chile continues, despite Pescanova's attempts to slow down the liquidation of the company and its Chilean subsidiaries until the situation of the Galician multinational in Spain is resolved.
Uruguayan president José Mujica said that members of Mercosur must readjust the block's legal framework ‘to make it work’ so that differences among its partners can be resolved in an institutional framework. He insisted on a review and amendment of mechanisms with greater flexibility and more adapted to current circumstances.
President Manuel Ortega said on Saturday that the construction of a massive inter-oceanic canal in Nicaragua that could significantly alter global trade would start at the end of 2014. Ortega gave a Chinese group a concession to manage the future shipping channel for 50 years, with the possibility to renew the contract for another 50.
The Falkland Islands budding oil and gas industry advanced a further step this week when the Falklands' Planning and Building Committee gave planning permission to a temporary dock facility (TDF) in Stanley harbor that will provide logistics support to exploration drilling.
A labor appeals court in north-central Argentina ruled that the construction of a Monsanto plant is unconstitutional, halting work on the site. The three judge court ruled 2-1 in favor of the activists who filed a legal appeal against Monsanto’s GMO seed plant on environmental protection grounds in the municipality of Malvinas Argentinas, located in central Cordoba Province.
The Panama Canal Authority, or ACP, said on Wednesday it would be impossible to meet the demands of Italian builder Impregilo, which has called on the government agency to make an additional payment of up to 1 billion dollars to cover cost overruns affecting a project to expand the international waterway.
Panama Canal officials offered Tuesday to share the burden in a 283 million dollars fund to end a spat with a consortium threatening to halt the waterway's expansion over huge cost overruns. The proposal came after two days of intense talks under mediation of a Spanish cabinet minister who flew to Panama City for emergency meetings aimed at preventing a shutdown of the major project.