Dril-Quip (Europe) in Aberdeen has announced a letter of intent with Premier Oil to provide subsea production systems for the Sea Lion Phase 1 development offshore the Falkland Islands. The letter of intent signed was described as a sizeable supply contract, but was undisclosed.
The Falkland Islands government is reviewing a tax return submitted by one of the oil companies currently operating off-shore the Islands and is confident a mutually acceptable outcome can be reached.
Rockhopper Exploration (AIM: RKH) announced that on Friday early morning it had spudded Ernest 26/6-1 exploration well in the North Falkland Basin, the second well the British company is drilling following the successful discovery of oil in its Sea Lion prospect.
Rockhopper Exploration the only company so far to have announced the discovery of oil in Falklands’ waters is preparing to spud its second well in the North Falkland basin, the company announced in a release.