
Rockhopper Exploration (AIM:RKH), has highlighted progress at the Sea Lion oil development in the North Falkland Basin, operated by Navitas Petroleum. The first two phases will use the Aoka Mizu FPSO with capacity of 55,000 barrels per day, while a new memorandum of understanding for a second FPSO could lift total capacity by a further 125,000 barrels per day, significantly expanding the project’s production potential if implemented.

Exploring group Falkland Oil and Gas Ltd. said on Friday the Humpback 53/02-01 exploration well to the southeast of the Falkland Islands has found oil and gas shows, while wire-line logging indicates there are hydrocarbons bearing sandstones within the main target area.

Falkland Oil and Gas Ltd has confirmed that the Eirik Raude rig has commenced mobilization from West Africa to the Falkland Islands for the 2015 drilling program, which will be operated by Premier Oil and Noble Energy.

Falkland Oil and Gas Limited (FOGL) reported this week that it is making progress with its preparations for its next drilling campaign, which is scheduled to start during the first quarter of 2015 off the South Atlantic Falklands Islands.

Four London AIM listed oil companies carrying out exploration work in Falkland Islands waters have been barred from operating in Argentina. The measure affects Borders & Southern Petroleum, Desire Petroleum, Argos Resources and Falkland Oil and Gas.

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.

Noble Energy Inc. (NBL) executives said on Thursday that oil production in the Falkland Islands could begin in about six years if an exploration well proves to be successful.

Falkland Oil and Gas has provided an update on drilling operations at its Loligo prospect, following market speculation which has seen the value of the companies shares fall by almost 30% at one point on Monday.

Argentina’s National Securities Commission, CNV, officially communicated leading international stock exchanges in the US and Europe that hydrocarbons companies operating in the Argentine continental shelf in the area of the disputed Falklands/Malvinas Islands are involved in “illicit and clandestine” activities.

London AIM listed Falkland Oil and Gas announced it has reached an agreement to farm out a 35% stake in most of its Falkland Islands’ exploration licenses to the US Noble Energy to help fund its drilling plans off the Islands.