More companies line up to join the Falklands’ oil rush

Friday, February 5th 2010 - 04:39 UTC

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Desire Petroleum CEO Ian Duncan next to oil exploration material stocked in the Falklands. (Photo: Upstream).-

While there have been strong protests from the Argentine Government about the drilling program due to start in Falkland Islands waters this month, it has not deterred other companies wanting to join Desire Petroleum, Rockhopper Exploration and Falklands Oil and Gas in the search for oil.

At an extraordinary meeting of the Falklands’ government Executive Council on Wednesday, new applications for seismic and geophysical surveys were considered and Governor Alan Huckle was advised to seek approval for both.

Director of Mineral Resources, Phyl Rendell said an application had been received from a company considering seismic survey work for an oil company with production licences in the Islands.

To allow a vessel to survey here, the company requires an exploration licence and the Governor was advised to seek approval for the award of a licence.

A further application from a geophysical survey company to carry out a speculative seismic survey in unlicensed acreage was also considered.

Mrs Rendell said this application was encouraging and demonstrated the willingness of companies to invest in additional data acquisition.

Details are yet to be agreed on the scale of the survey, but meanwhile Governor Huckle was advised to seek consent to award an exploration licence and thus allow the survey to proceed.

In both cases the proposed surveying is outside the fisheries area that is potentially active in coming months, said Mrs Rendell. (Penguin News)

Categories: Energy & Oil, Falkland Islands.

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Argie
I feel they're all treading dangerous waters. Time will tell.
Feb 05th, 2010 - 01:23 pm 0
ed
these companies ' taxes will be paid to Argentina
Feb 05th, 2010 - 02:44 pm 0
usedtoliveinba
I love the narcissism of Argentinians, don't you realise most people don't even know where your country is? You have no army, no money and little respect in the world community. How in the world could this end up being a problem when The Falklands are under UK authority, protection and laws? And that ridiculous Cristina thought changing the law to keep out oil exploration companies would stop them from investing in The Falklands I think all the plastic surgery must be warping her reality.
Feb 05th, 2010 - 03:01 pm 0

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