Rockhopper Exploration (RKH.L) said it believed its oil discovery offshore the Falklands Islands will be commercially viable. A test at the Sea Lion 1 well in the North Falkland basin produced sustained rates of over 2,000 barrels of oil per day, in line with its hopes, Rockhopper said in a statement on Friday.
Latin American oil and gas firm GeoPark Holdings Ltd said on Thursday it successfully drilled and tested a new well in the Guanaco oil field on the Fell Block in the extreme south of Chile.
CNOOC, Ltd, China’s biggest offshore oil explorer, may bid 10.2 billion USD for BPs 60% stake in Argentina’s Pan American Energy LLC and will probably seek a partner in the acquisition, Citigroup Inc. said.
Argentina and South Korea signed on Thursday a memorandum of understanding (MOU) for bilateral collaboration in the nuclear sector. The MOU sets forth that the two nations will discuss concrete cooperation plans to build a new nuclear plant in Argentina and to repair the country's existing heavy water reactors.
The Argentine press confirmed that following the contracting of a semi-submersible rig from the Swedish company Stensa, a consortium of Argentine based oil companies will begin exploratory drilling in the Malvinas basin next December.
In the first six months of 2010 Falkland Islands based Argos Resources has made significant progress in developing its PL001 Licence in the North Falkland Basin, to anticipate it will begin an exploratory hydrocarbons drilling campaign in the second half of 2011.
Falkland Islands Desire Petroleum (AIM-DES) is upbeat about the prospects for finding major reserves of oil offshore the Islands despite mixed results so far and revealed plans to further drill four wells in the North Falkland basin.
A Chilean-operated oil rig off Argentine Patagonia in the South Atlantic caught fire early on Wednesday, forcing all its eight workers to evacuate by rafts and oil production to shut down, reported the Argentine navy.
The North Falkland oil and gas exploration company Rockhopper Exploration plc (AIM: RKH) announced Monday that the Ocean Guardian drilling rig is on location at the Sea Lion prospect where oil was discovered in a drilling last April/May. Operations now are concentrated on the flow test of the Sea Lion main and lower fans.
THE offshore oil drilling rig Ocean Guardian continues its work at Rockhopper Exploration’s Sea Lion well, where hydrocarbons were encountered earlier this year. The well at that time was suspended for re-entry and testing.