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.
FOGL is the operator of the well, holding a 75% interest, together with its partner Edison International Spa, which holds the remaining 25% interest.
Under a farmout agreement announced on 6 August 2012, Noble Energy Inc. will also participate in this well for a 35% interest, thereby reducing FOGL's interest to 40%.
The farmout agreement has been approved by the Falkland Islands Government and the changes to the licences will be formally executed in the near future.
Scotia is the second of FOGL two-well exploration program using the Leiv Eriksson semi submersible drilling rig, announced the company.
The well is designed to test the Scotia prospect within the mid Cretaceous fan play. It is anticipated that the well operations will be around 75 days with a total depth of approximately 5.000 meters
It was announced earlier this month that a gas discovery had been made at Falkland Oil and Gas’s Loligo exploration well.