MercoPress. South Atlantic News Agency

Oil company begins 3D seismic surveying to the south of the Falkland Islands

PGS M/V Ramform Sterling will survey the Diomedia fan complex during the next four months

Falkland Oil and Gas Limited oil and gas exploration company has commenced an important 3D seismic survey operation in the south of the Falkland Islands, where the company has extensive licence areas.

The PGS M/V Ramform Sterling will survey the mid Cretaceous Diomedia fan complex within the southern area licences, covering a minimum area of 4.000 square kilometers, a task likely to take approximately the four months of the austral summer, said the company in a Wednesday release.

The original plan was that the Diomedia survey would be acquired later in 2013. However, due to the late completion of the Scotia well, there has been insufficient time to allow the Scotia results to influence the exact location and design of the 3D survey.

As a result, “FOGL and its joint venture partners have decided to swap the order of the two surveys and the northern area 3D survey will now be acquired in the fourth quarter of 2013”.

This survey will be operated by Noble Energy Inc., one of FOGL partners.

A second 3D survey, operated by FOGL and using the PGS M/V Ramform Challenger, is expected to commence in the first quarter of 2013.

FOGL CEO Chief Executive Tim Bushell said the company was pleased to announce the start of a very important 3D seismic survey program, which “marks the continuation of our exploration activities”.

“The 3D seismic will be invaluable for identifying future drilling targets, locating good quality reservoir and differentiating oil from gas prospects” added CEO Bushel.

A week ago FOGL announced it had abandoned its Scotia exploration well in the south basin after disappointing results, thus completing its 2012 two-well drilling (Loligo and Scotia) program in the Falkland Islands

However “the Scotia well data which was drilled to a depth of 5.555 meters will be invaluable for calibrating the 3D seismic program” and when combined with detailed analysis from the drillings “should allow identification of better quality reservoir and differentiation between oil and gas prospects” reported FOGL at the time.