The Falkland Islands Government (FIG) is likely to earn somewhere in the region of 25 to 30% of the gross value of the oil resource spread over an expected field life of 25 years, it was stated at a public meeting in the capital Stanley earlier this week.
The Falkland Islands Government accounts showed a surplus of £4.297 million compared to a revised budget surplus of £2.448 million (a positive performance of £3.190 million) for the first three months of the 2012/13 financial year, according to the Financial Management Report presented this week to the Standing Finance Committee.
The Falkland Islands will have a new deep-water port facility capable of meeting the demands of all incumbent industries it was announced following this week's meeting of Executive Council (ExCo).
Falkland Oil and Gas Ltd., (FOGL), announced completion of the farm-out agreement with Noble Energy Falklands Limited, an affiliate of Houston based Noble Energy, Inc. and the signing of agreements with Petroleum Geo-Services (PGS) for the acquisition and processing of two new 3D seismic surveys.
UK government plans to merge the British Antarctic Survey with the National Oceanography Centre have triggered global debate among scientists and politicians with former US Vice-president Al Gore wading into the discussion and fears in the Falkland Islands of a diminished “British presence” in the region.
The Falkland Islands Government announced the appointment of David Jenkins to the post of Director of Health and Social Services. David, the current Director of Health and Education, will take up his new role with effect from January 2013 following a restructure which will see Education form a separate Directorate.
The Falkland Islands Government (FIG) have announced a new price control mechanism to regulate the prices of regulated retail services provided by Cable & Wireless South Atlantic under their exclusive licence to the general public and businesses in the Falklands
Falkland Oil and Gas, FOGL, announced on Tuesday that last 25 September it spudded the Scotia exploration well to the East of the Falkland Islands. The well FI 31/12-01 is located 315 km east-northeast of the Islands capital Stanley, and 114 km from the Loligo prospect.
Members of the Falkland Islands Legislative Assembly Gavin Short and Sharon Halford are currently attending the Commonwealth Parliamentary Association Plenary and Small Countries Conference in Sri Lanka.
The Falkland Islands Executive Council has officially approved that a referendum be held on the question of the political status of the Falkland Islands and announced that the Electoral Commission has agreed to assist with developing the form of the question and the wording and give a bespoke advisory service including providing guidance.