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Three extraction rigs expected to be operating in the Falklands in next 2/3 years

Friday, October 12th 2012 - 16:50 UTC
Full article 24 comments
Stephen Luxton, Director of the Falklands’ Mineral Resources Stephen Luxton, Director of the Falklands’ Mineral Resources

As the final drill in the Falkland Islands oil exploration round nears completion Director of Mineral Resources Stephen Luxton said it was a safe assumption to plan for three rigs rather than two in the next two to three years when extraction would get underway.

Although the Liev Erikssen rig would be demobilised once Falkland Oil and Gas (FOGL) had completed its current operation in the Scotia prospect, Border and Southern was expected to begin seismic work in the coming year which would bring more vessels into Falklands’ waters, Mr Luxton told the Mineral Resources Committee earlier this week.

Government readiness planning was in a good place with legislative reviews progressing well and a draft report expected at the end of this month, indicated Luxton.

Premier (Rockhopper Exploration partner) had indicated that they were happy with how things were moving in preparation for first oil and while there were bound to be a few challenges there were no particular worries, said Mr Luxton.

 Two proposals regarding the development of FIPASS floating dock will be placed before Executive Council this month. FIPASS is crucial for the hydrocarbons industry as the logistics hub for the drilling and future production operations. (Penguin News)

 

Financial Tags: FOGL, RKH.

Top Comments

Disclaimer & comment rules
  • Conqueror

    It's all good news for the Falklands! And nothing the illegitimate occupants across the water can do about it!

    Oct 12th, 2012 - 05:46 pm 0
  • falklandlad

    Great news - 3 rigs within 3 years - potentially 3 more new discoveries within 5 years and a great line from Conqueror above... nothing they can do about it!

    Oct 12th, 2012 - 08:31 pm 0
  • Joe Bloggs

    :))))

    Oct 12th, 2012 - 09:13 pm 0
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